Apple’s iMovie mobile application has new competition when it comes to mobile video editing. Long-time digital video editing software vendor Avid has released its Avid Studio mobile video editing app for the iPad. The app is currently available in the App Store for an introductory price of $4.99 and will increase to $8 after 30 days. Avid Studio for the iPad is the company’s first video editing program for Apple’s mobile platforms. Avid Studio looks to provide most of the features offered through the desktop version, going above and beyond what iMovie is capable of in many cases. The app comes only two days after Apple released a big update for Final Cut Pro X for OS X.