Nipping at the heels of the rumored 2011 update to the existing Skype application that was said to bring video calling capabilities is the official release of the aforementioned Skype app with those video calling capabilities for the Apple iPhone. Its the Skype version 3.0 to the iTunes app store.
The application is bringing the long waited video calling feature to iPhone 3GS (yes, you can still broadcast using your rear camera) and iPhone 4 devices, and what's even better, it is working on both 3G and WiFi. You will also be able to make or take a video call with the other party being a Skype for Mac OS X or Windows user but your device has to run iOS 4 or later in order to use the video calling feature. Current version supports both portrait and landscape orientations taking advantage of the accelerometer and is available for free in the iTunes app store.