This is a lot like Truphone, which we told you about in December. Leading IP telecommunications company JAJAH has announced a complete overhaul of the iPod Touch. They want to turn the device into a fully functional iPhone.

The new capabilities will enable carriers and non-carriers to launch the service under their own brand and provide customers with the ability to make low-cost phone calls and send SMS text messages to any phone in the world from their iPod Touch. Consumers would only need a Wi-Fi connection, no SIM card or contract. This is big news, what with the iPod Touch being one of the most popular consumer devices in the world.