Picture-in-picture display and fast zooming in your contact list come in Skype 4.5
Microsoft's Skype application has undergone another big change, and version 4.5 is headed to Google Play. Like the last major update, this focuses on tablet design. Included are the bug and crash fixes and support for devices you would expect, but there are also two new features for tablet users.
The first is a picture-in-picture window for video and voice calls. You can now move out of the Skype app but still interact with a floating window of the active call. This is a tablet-only feature, though you will need to allow permission for it on phone installs as well.
The second feature is pinch-zooming and tapping your contact list to quickly navigate based on the letter of the contacts name. This should allow faster searching through your list if you've a long one, and should help when calling someone who isn't in your favorites.
Microsoft says the update will be rolling out today, so keep an eye out for it.