Dubbed yellowsn0w, the application will allow users to unlock the phone for use with any GSM sim card.
More information from the Dev-Team can be found here: Dev-Team Blog
A full guide can be found here: How to Unlock the iPhone 3G
Many are reporting trouble unlocking the phone using the application, but be noted it is a beta and a more stable application should be available soon.
Written by: Andre Yoskowitz @ 1 Jan 2009 18:48
