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Apple announced that iPhone's resume now includes YouTube.The upcoming mobile device will be compatible with videos published to the popular Web site, thanks to an Apple-designed application.

According to Apple the iPhone will be the first mobile device with the capability to display videos encoded with the H.264 standard. YouTube has begun converting its videos to the H.264 format, which is said to provide DVD quality in small file sizes.

Starting from June 29 the YouTube application will ship with the iPhone, and can be downloaded now for use on Apple TV.

The videos will wirelessly stream to the iPhone over either Wi-Fi or EDGE networks.
A report released Tuesday by industry research firm IDC said that ‘the price of the device itself and the cost of switching carriers may dampen the demand’ for the iPhone.

Using a sample of 456 online mobile phone shoppers, the survey found that 60 percent were interested in the new device but only 10 percent plan to buy one anytime soon. If it were priced under $299, those interested in buying it now would increase to 18 percent.

Apple's decision to create an iPhone app for YouTube videos is obviously an attempt to add to its capabilities.

The IDC report also noted that Apple loyalists alone can make the launch a success, but it is unclear whether that will translate into long-term success