The application is called DataCase, and it works by connecting an iPhone to any other device or simply by making it available on a wireless network.
Users can set up their main computer with a simple drop-box icon that will let them instantly transfer files into the iPhone's storage. Transfers can be set to only go one way, or users can set up their iPhone as a functional external drive with two-way file transfer. The application also reported will let users stream video from their iPhone to a computer.
The application costs $6.99 and is available online. To see a demo of DataCase in action, visit YouTube.com.
Technology critic Michael Arrington of TechCrunch.com praised the new application.
"I’ve been testing it and it works, for the most part," he said. "I’m having trouble reconnecting after closing it down and re-opening. [It's] definitely worth the $7. Any business user will want to download this immediately."
Other recent developments with Apple's iPhone include the addition of the mobile blogging application CellSpin.
CellSpin is similar to mobile social networking applications Utterz and Trutap. The app lets users post photos, videos, text, and audio clips to various online profiles such as MySpace, Facebook, Google Blogger, Twitter, Picasa, Flickr, LiveJournal, eBay, YouTube, Windows Live Spaces and more.
To see other iPhone applications, visit Apple's online store.