According to AppleInsider, however, an upcoming iPhone 4.0 software will finally bring multitasking to the platform this summer. The "full-on solution" will reportedly support several third party apps running at once in a "multitasking manager that leverages interface technology already bundled with its Mac OS X operating system." This could potentially refer to the basic Command-Tab switcher, or something like Expose.
Unfortunately, no more details are available at this point. The change in policy is likely related to a future hardware update. Rumors suggest that the next iPhone -- likely to be announced around June -- could use a variant of the A4 processor found in the iPad as well as additional RAM.