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NEW YORK (

TheStreet

) -- Skype announced today that the latest version of its application for

Apple's

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iPhone will allow users to make and receive video calls.

The new app will be available for use on the iPhone, iPad and iPod touch and can be used with either a Wi-Fi connection or on

AT&T's

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3G cellular network.

"With video calling representing approximately 40% of all Skype-to-Skype minutes for the first six months of 2010, our users have been eager to get Skype video calling on their mobile phones," said Neil Stevens, general manager of Skype's consumer business.

Skype is preparing to sell as much as $1 billion worth of its

shares in a public offering

.

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The Luxembourg-based Internet calling and video conferencing company split from

eBay

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last year when its founders and private equity investors bought the unit. In August, Skype filed an S-1 with the Securities and Exchange Commission detailing the company's performance and its intent to offer stock to the public.

-- Written by Ross Tucker in New York.

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