Microsoft\'s Skype team on Monday announced it is putting the finishing touches on a brand new version of its iPhone app, which will be more than five times speedier than its predecessor, Pcmag.com reports, quoting Skype Product Marketing Manager Eric Lin as saying that the redesigned app will be available around the world in "about a week".

"This is the biggest change ever to Skype for iPhone, and soon we will be delivering a new iPad version too," Lin added.

Besides the speed bump, Lin promised that Skype 5.0 for iPhone will be less laggy than the current version, offering a smoother experience when users scroll and transition from screen to screen. iPhone users will also gain the ability to start up group chats from the hub as well as send messages and photos to offline contacts.

The Skype app should also interact better with other devices , such as a PC, tablet, or Xbox.