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This is either a good way to heat up your hands or a great way to destroy your iPhone. The new Pocket Heat app essentially revs up the phone's processor into overdrive, in order to turn it into a mini-heater. The thing might pump out enough heat to warm your fingers in a pinch, but since Apple recommends you not operate your iPhone in freezing conditions anyhow, you might be better off investing in some good winter gloves.
The Pocket Heat app is just 99 cents, so it's even cheaper than those throwaway chemical-based heat tablets you can jam in your gloves and socks. But of course it's not cheap at all in comparison to a new iPhone, so you might want to think this one through before you jump on the bandwagon and download it. Of course, if you're desperately addicted to your iPhone and carry it with you on the slopes anyway, this might be handy if worse comes to worse.
Here's a non-English video demoing the app (key point: his phone survives the test):
And here's the link to buy the thing if you want it.