Apple just announced that it’s adding Multitasking to iPhone. Here is a quick demo of how switching between apps works in the new version of the OS. Currently the iPhone can’t effectively multitask and the current app exits when you press the home button. Even now with iPhone 4.0 Multitasking on the iPhone might be just App Switching on Steroids To show what apps are currently open , you need to double tap on the home button ( and you’re screwed if your home button goes dead )
Watch the video below to understand how it works.