The iPhone Dev Team has jailbroken the iPhone 3GS. The jailbreak process allows Apple’s latest handset to run unofficial apps and work on carrier networks other than those sanctioned by Cupertino. Here's what they have to say:

Last night we released updated versions of our redsn0w jailbreak and ultrasn0w carrier unlock. These versions are now compatible with the iPhone 3GS running at 3.0. Welcome aboard, 3GS owners! (The tools of course remain compatible with all of the other platforms too.) Also last night, saurik released 3GS-compatible versions of MobileSubstrate and WinterBoard, components that enable many different add-ons and themes.

Below is a video showing the new jailbreak in action.

iPhone 3GS Unlock Demonstration from planetbeing on Vimeo.

Check out the iPhone Dev Team blog here to learn more .

[via TechCrunch]