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VLC is a free and open source multimedia player. It reads almost every video file, yet it's very powerful and simple to use






 What's New in Version 1.1.0

 This new version of VLC brings :
- Runs on the iPhone 4, iPhone 3GS, and the recent iPod touches
- You can now delete files from the application, without having to go through iTunes
- Many more extensions are being recognized.
- Much faster decoding thanks to assembly optimizations

 Requirements: 

Compatible with iPhone, iPod touch, and iPad. Requires iOS 3.2 or later 

iOS 4.0 Tested

 VLC Media Player for the iPhone is available for free in the app store