You heard it right. Google has moved in to shut down Infinite SMS application for the iPhone. The rise and fall of Infinite SMS happened in only a few weeks. The folks behind this application introduced it a while ago and rose to the top of the iTunes charts in no time. Infinite SMS used GTalk to accomplish its task. But while GTalk is available for free to a Google users, it doesn’t mean Google is going to sit around and allow folks to use its services to make money online.

As of today, Infinite SMS is not accessible in the iTunes store. The developers have put a note up explaining why they have had to remove their precious application from the iTunes store. To its credit, Google doesn’t single out Inner Fence. It argues that SMS chat is currently an experimental feature. Google intends to block all third-party applications in the future.

What does this mean for iPhone developers? It’s great to come up with innovative applications that help folks save money, but always have a plan B in case your plan A is shot. In this case, I am not even sure if there is a plan B, and one could argue that Infinite SMS has provided enough publicity for its developers to be all worth it.But if you are an application developer hoping to launch an innovative app in the near future, you should do your proper research and assess the risks before putting time and money behind your ideas. Things go wrong when you least expect them.