Customers using the new service will be able to bring together all of their favourite content and services from across the internet.
The new service will be available as an application developed for the Apple iPhone and smartphones from Nokia, RIM, Samsung, Sony Ericsson and Motorola as well as those powered by Windows Mobile.
Marco Boerries, the executive vice president, Yahoo!, said: We believe the new Yahoo! Mobile will transform the way millions of mobile users around the world will interact with the internet.
Yahoo! Mobile will enable users to create their own internet starting point on their mobile device so they can better discover, connect to and stay informed about the people and things that are important to them.
Yahoo! Mobile will initially be available through a managed beta program, and is expected to be generally available in the second quarter of this year.