Apple has released Final Cut Express 4, an upgrade to its video editing software based on Apple's Final Cut Pro 6.

Final Cut Express 4 adds support for the latest AVCHD cameras, allows mixing of standard and high definition content on a single timeline, includes the ability to import iMovie '08 projects, and gives users access to hundreds of FxPlug cinematic effects and filters.

"Almost a million digital filmmakers have made Final Cut their editing application of choice", said Rob Schoeben, Apple’s vice president of Applications Product Marketing.

"With the introduction of Final Cut Express 4, Apple makes it easy for anyone to join the rapidly growing community of Final Cut editors worldwide."

Final Cut Express 4 is available immediately for American buyers for $199 with owner upgrades for $99.

UPDATE: Available on the UK Apple store (and in shops too) now for £129 or £65.