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Amazon has released a free application for the iPhone and iPod touch that brings several of the Kindle’s functions to the popular mobile devices. The application itself does not connect to the Kindle store, with users having to purchase books separately via a web browser, but if you already have an active account then all your previous Kindle purchases will be easily transferrable to the iPhone or iPod touch for later reading.

Like on the Kindle, you can bookmark pages, increase the font size and access the table of contents to jump directly to different chapters. It also allows you to sync your current location in a book with Amazon’s servers so you can later switch between the iPhone and Kindle hardware without losing track of where you are. One major feature that is missing from this app, however, is the ability to add notes to your books.

The free application arrives just a few weeks after Amazon unveiled the second-generation Kindle, which currently goes for a rather steep $359, but the company seems confident it won’t cannibalize sales of their device as they expect people to use their phones to read only for short periods. According to them, the Kindle has nothing to fear from the iPhone because of its superior screen and battery life.