ISSUE
I already have Parallels Mobile installed. How do I install the latest version of the Parallels Mobile?INFORMATION
Older versions of the Parallels Mobile are out of date and may have some connection issues.RESOLUTION
The App Store automatically detects if updates are available for any of your applications and will display this sign on it:Once you click on it, it should install the latest versions of your applications. For more information please see this article.
Download iTunes on your Mac (or PC) and then synchronize it with your mobile device:

It will replace your current version and keep your settings.
No
Yes