You may have heard that Apple now offers the Find My iPhone service for free to iPhone 4 owners who have installed the iOS 4.2 update. When set up properly, the service locates and even sends messages to the lost device. Find My iPhone can also remotely lock or erase your iPhone.
Setting up the service no longer requires a paid MobileMe subscription with Apple to use. To set up Find My iPhone on your device follow these instructions.
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Read the original post by Bob Bhatnagar