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The latest version of Yahoo! Messenger App for iPhone is now available  on the App Store. Yahoo! Messenger users on iPhone can now make free voice and video calls to their Messenger friends, low cost calls to land line or mobile phones — plus get new features like multitasking, instant notifications and free SMS.

# Video calls: Make video calls and stream live video one-to-one
# Voice calls: Make free voice calls to your Yahoo! Messenger friends
# Low cost voice calls: Talk to your friends on their land line or mobile phone, and make low cost international calls
# Multitask: Work with other iPhone apps while Yahoo! Messenger runs in the background
# Send free SMS messages via Yahoo! Messenger
# Get notified for every message: Know when a new message arrives whether the app is running, in the background, or even if it’s not open
# Show and tell: Capture and share iPhone photos and video in real-time, with your Yahoo! Messenger buddies
# Bring your friends in one place: Add your Windows Live Messenger contacts to your buddy list