Just to give an update to people who face the same problem. I transferred videoes to my PC and encoded them using Handbrake. I then transferred the encoded videoes to iCloud Drive and imported them into iMovie on my iPhone 7. This works but a big hassle.
Thanks for your answer, but i don't think your theory is correct since:
1. iMovie on iPhone 7 accepts video if I film in 2.7K 30 fps. Video is still in 29.99 fps.
2. iPad air 2 accept a video in 4K 30 (29.99) fps filmed from Mavic. Why should not iPhone 7 accept a video in 29.99 fps when iPad...
I have the same issue where iMovie on iPhone 7 Plus say file format not supported. On my iPad air 2 it works fine to edit the video inside iMovie. This is the format of the video file i try to import: .mov, 3840x2160, NTSC and 30 fps.
I can edit video in iMovie on my iPhone 7 if I record video...
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