Top 1: iMovie
Want to make beautiful HD movies anywhere anytime? Then iMovie developed by Apple is absolutely the best video editing app for you. With the app, you can turn various video you shoot on your iPhone, iPad into gorgeous home movies. And you can also shoot a new video clip inside the application for better video editing on iPhone. After editing, you can easily share the video from iMovie to YouTube, Facebook, Vimeo, and CNN iReport.
Top 2: Socialcam
Socialcam, one of Apple's Best Free Apps of 2012, now have more than 10 million downloads. With this app, you can easily capture, share and view videos on your iPhone. And now come with vintage video filters, custom titles, and soundtracks! And unlike other app, the video you shoot with your device are stored in the cloud, so you can watch them on any smartphone, computer or tablet.
Top 3: Animoto Videos
This free app can turn your photos into stunning, professional-quality videos, and support choose your favorite music and songs as the background music to make a photo slideshow in minutes. You can also easily share your videos via email, text, Facebook and Twitter or save to your Camera Roll.
Top 4: Splice - Video Editor (Free)
Splice has some exclusive features that other apps don’t own. It lets you create and edit all aspects of the video. The app allows you assembling video clips and photos with an easy-to-use drag and drop timeline. The user is able to add music from iTunes, photos from your albums, visual effects (like, slow & fast motion), transitions, text, audio mixing. Splice also has a store with hundreds of sound effects, music tracks and boarders that can be purchased to enhance the video.
Top5: Video Editor FREE
By the way, as all we know, iPhone only supports MP4, MOV and M4V videos with special video codects, so what can you do when you have got videos in other formats like WMV, AVI, FLV, MPG, etc. and want to edit them on your iPhone or to watch them on your iPhone? Here I have a good idea for you, you can use the 50% Off Video Converter for Christmas Promotion to convert the videos to these formats which iPhone support. This 50% Off Video Converter can also help you do some simple video editing like video cropping, trimming, merging, video effect adjusting, codec parameter setting, etc.