TomTom’s much anticipated turn by turn app for the iPhone was released on Monday on iTunes for $99.

The app uses the iPhone's built-in GPS chip to provide users with real-time navigation directions.

The iPhone app features both landscape and portrait views, points of interest, 3D and 2D maps together with night and day views.

TomTom is also planning to release a car-kit in conjunction another Tom Tom software - the iPhone cradle - which attaches the phone to the windshield, while charging the handset and boosting GPS reception.

The app offers four separate maps for purchase: U.S. and Canada, Western Europe, Australia and New Zealand.

The new Tom Tom’s iPhone app won’t require a subscription like the AT&T Navigator app which charges users a $9.95 monthly fee. The app is compatible with the iPhone 3G and iPhone 3GS and requires the iPhone 3.0 OS or later.

Watch a Demo video of TomTom iPhone app in action: