We're not sure if you're aware or not, but last week there was the small matter of Apple's WWDC in San Francisco, during which Apple boss Steve Jobs officially unveiled the next generation iPhone 4.

It's understandable if you missed the announcement. We only ran about 15 posts about it, and it was only the main talking point of not only the tech world, but the mainstream media as well. But if it did somehow miss your radar, then you can read all about it here.

If, however, you were paying attention you may have noticed the keynote speech also featured a demo of the new iMovie for iPhone app. And now, we bring you more details of this much anticipated app via Apple news specialist TidBITS.

The bad news first: iMovie is going to be iPhone 4 exclusive. If you were hoping to be able to do some serious movie editing on your iPhone 3GS using iOS 4 then think again, it's not going to happen. There will also be no iMovie for the iPad at launch, according to the report.

More bad news: Movies edited on iMovie on the iPhone will not be able to be further edited using iMovie on your Mac. It all has to stay inside the iPhone 4 version unfortunately.

Good news: If you shot video elsewhere using a different device then you should be able to import this footage into your iPhone 4's iMovie to edit as long as it's a compatible format (H.264).

More good news: iMovie should be in the App Store in time for the iPhone 4's 24 June launch.

And yet more good news: The report also suggests that an iPad version should appear sometime in the near future. This will probably coincide with the iOS 4 for iPad launch later on this year.

Are you considering getting an iPhone 4? Was iMovie one of the main selling points for you? If so, what do you think about the details that have emerged? Let us know below.