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iMovie, GarageBand for iPad announced -- $4.99 on March 11th

Engadget: In addition the the announcement of the iPad 2, Steve Jobs just unveiled iMovie for iPad, so all your tablet video editing dreams are about to come true. So what does this new version of iMovie have in store for you?

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engadget.com
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iMovie for iPad: how to edit your videos quickly and easily

Techradar: Your iPad's large screen and portability makes basic video editing a breeze.

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techradar.com
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Avid Studio iPad app arrives to take on iMovie

Pocket-Lint: Avid is taking its movie editing expertise mobile with the Avid Studio iPad app.

The app, which its makers will hope to rival Apple's iMovie, has all the ingredients of the popular desktop Avid software, compressed to be tablet happy.

It's simple to drag photos, videos and audio from your iPad's library into the app and features include precision editing tools - including frame-by-frame editing, easy video and audio track compositing - for picture-in-picture, montages and the like, and export options aplenty.

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pocket-lint.com
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Best iPhone Video Editing Apps

With easy-to-use tools and a simple user-interface, iPhone video editors provide a satisfying video editing experience. These apps take advantage of the phone’s various features and can be of great use to amateur movie makers.

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brighthub.com