Amazon.com's Kindle is recently released in its 2.0 iteration, and with it comes a whole new competitor - the iPhone. Except... its not competition at all. Amazon has actually released a free app in the AppStore to allow iPhone users to read purchased Kindle-compatible books on their iPhones.
The Kindle Store currently has more than 240,000 titles and are adding more every day. The Kindle Store offers 104 of 112 books currently found on the New York Times® Best Seller list. New York Times Best Sellers and most new releases are $9.99, and you'll find many books for less.
$359 is a bit steep for the Kindle still, so perhaps Amazon can net some extra revenue this way by simply selling books to iPhone users. Either way its a useful app!
Kindle (AppStore Link - free) via Reuters