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iPhone to Stream YouTube Clips

Stock quotes in this article: AAPL , GOOG , CBS , TWX  

Apple (AAPL Quote) said Wednesday that it created an application to let iPhone users wirelessly download and play video clips from YouTube.

The move bolsters the iPhone's appeal as a portable entertainment and Internet device and tightens the bond between Apple and YouTube's parent company, Google(GOOG Quote).

Apple will be the first company to use YouTube's mobile video format that's suited to a cell phone's smaller screen. YouTube's mobile format also prevents videos from sapping a cell phone's battery life. ...

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