FiLMiC Pro's new V2 log profile has a claimed 12-stops of dynamic range on the latest iPhones, which on paper at least sounds pretty impressive for a phone, and would seemingly place such devices on a par with a camera like the Pocket Cinema Camera 4K.
Additionally for phones such as the iPhone XS the maximum bitrate of 4K has been increased to 130Mb/s. Again considering this is HEVC encoding, and on a phone, this is pretty impressive stuff.
Also new is the FiLMiC Pro LUT pack, which is available to download for free from the company's website. This includes a DeFlat and DeLog LUT for use within NLE software to give you a base Rec.709 look from which to grade further, should you wish.
Of course there are limitations. We do need to stay realistic after all. The iPhone still only records 8-bit colour, so care still needs to be taken while shooting, and whether you need to use log or not will depend a lot on the type of scene you are shooting. But with all this said, we still find it amazing that we are discussing shooting footage on a phone in these terms.
The new update is available now for both iOS and Android devices. For new users the base software costs $14.99, while an in-app purchase is required at the same price to access the Log V2 functionality. For more information visit the FiLMiC Pro website.