Apple today announced that iPhone users will be able to enjoy YouTube?s content on their iPhones when they begin shipping on June 29.

A new Apple-designed application on iPhone will wirelessly stream YouTube?s content to iPhone over Wi-Fi or EDGE networks and play it on iPhone?s 3.5 inch display.

In addition, Apple announced that YouTube is now live on Apple TV. Users can download the free software update using Apple TV?s built-in software update feature, and then navigate through YouTube?s familiar video browsing categories or search for specific videos. YouTube members can also log-in to their YouTube accounts on Apple TV to view and save their favorite videos.

To achieve higher video quality and longer battery life on mobile devices, YouTube has begun encoding their videos in the advanced H.264 format, and iPhone will be the first mobile device to use the H.264-encoded videos.

iPhone will be available in the US on June 29, 2007 in a 4GB model for $499 (US) and an 8GB model for $599 (US). iPhone will be sold in the US through Apple?s retail and online stores, and through AT&T?s retail stores.

Apple TV users can download the free software update using Apple TV?s built-in software update feature.