One of the features in the iPhone 4 is the new 5MP camera that can record high definition videos at 720p. With the upcoming iMovie app, iPhone 4 users will be able to edit and create movies right on their phone. There are other smartphones out there with HD video capabilities to compete with the iPhone 4, like the HTC Evo.
Below is a video comparison posted by Mike Niles, comparing the iPhone 4 versus the HTC Evo. Not sure how Mike was able to get video from an iPhone 4, but this is an interesting video nonetheless:
What device is the clear winner? The iPhone 4 video looks like the winner here, if this is actually from the next iPhone.