You can now read your Kindle books on your iPhone or iPod Touch. Just download the free app from iTunes (Kindle for iPhone) and you are ready to go.

You can read books currently on your Kindle as well as all your previously purchased books that are on Amazon’s servers.

You can’t buy books directly from within the application, but it will link you to the Amazon Kindle store.

Apparently, newspapers and magazines are not available within the app.

Source: Amazon releases a Kindle app for the iPhone