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The new (and free) application allows iPhone users to read Kindle e-books on their devices, but it will also sync between a user's Kindle and iPhone, keeping their "place marked" in the e-book so they can take up where they left off when they switch devices.
The application does not include the Kindle 2's controversial text-to-speech feature, however.
Ian Freed, an Amazon vice president told the Wall Street Journal:
"There are times when you're going to be in a place where you happen to have your iPhone but not your Kindle. If I get stuck in line at the grocery store, I can pick up where I was reading with my iPhone."
In the press release announcing the new application,
This isn't the first e-book reader for the iPhone, not by a long-shot, but the ability to download Kindle-format e-books and to sync with a Kindle gives it an advantage over other such apps, and despite what some might think, could actually spur Kindle 2 sales as well, because of the ability to sync between the two devices.