Amazon To Release Kindle iPhone Application?

Amazon Kindle 2.0 will be released today by Amazon at a press conference in New York. Kindle is an e-book reading device that allows its holders to gain access to wireless Internet connection on the go and the ability to buy books from Amazon from the device. Amazon is certainly not going to put all their eggs in one basket which is why industry insiders are predicting that Amazon will enter the mobile market by introducing a Kindle store for mobile applications and an iPhone application to allow consumers to read Amazon books on the iPhone.

I have to say I am a bit skeptical about this plan. While it would be great to have the option of buying books from Amazon and reading them on the iPhone, I am not sure if Amazon is ready to cannibalize its Kindle sales by making the iPhone into a fully-fledged competitor. A Kindle application would make iPhone into a portable (but better) version of Kindle, and I am not sure Amazon is going to allow that to happen. Fear not my friends. All will be revealed in a few hours.

Your take: should Amazon offer a Kindle application for the iPhone?