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It seems the latest iPhone OS 4 beta features more than what we’d expected. Macrumors has done a bit of sleuthing and has uncovered the preset “AVCaptureSessionPreset1280x720” value that hints the iPhone can record video in 720p HD resolution.

Previously, iPhone was able to record at VGA (640×480) resolution only but with most high-end phones capable of doing HD video, Apple’s decision to add the feature seems logical. The new iPhone is rumored to be dubbed as iPhone HD and will feature a 5MP sensor for still images.

[Via Macrumors]