After converting all of its videos to an HTML5-friendly format last year, YouTube’s largest competitor, Vimeo, finally released its very own iPhone app earlier today. The app comes free, and offers a slew of features that make the default YouTube app look mediocre at best. Vimeo for iPhone offers all the essential functionalities already available via Vimeo’s website, such as the ability to browse and rate videos, leave comments, queue videos, and so on. But what makes Vimeo stand out is an impressive built-in video editor, designed to help Vimeo users produce their own videos, and automatically upload them to the online service. The editor is not as fancy as iMovie, but it comes free, and will allow you to add titles, text, audio, and even transitions. To build a video, simply select the footages of your choice from your video library, trim them, combine them, add some titles and transitions, and in no time, the video will be ready to be uploaded to Vimeo’s servers. The app lets you to choose the quality of your uploads, to avoid using up too much of your data plan. Uploads can be paused/resumed, so you can wait to be connected to a WiFi access point to upload your latest creations.
Vimeo for iPhone is absolutely free, and was released on the App Store earlier today. Note that the app requires an iPhone 4, a fourth generation iPod touch, or an iPad 2 to work – iPhone 3G/S, third generation iPod touch and first generation iPad users will have to pass.