Microsoft Office for iPhone

Microsoft just released the Office 365 iOS application (iPhone only), allowing 365 subscribers to “access, view and edit … Microsoft Word, Microsoft Excel and Microsoft PowerPoint documents from virtually anywhere”.
— 9to5mac
Source: Microsoft

Source: Microsoft

UPDATE: Check out a hands on video at Gizmodo.  

Big news coming in from Redmond today, with Microsoft announcing its Office Mobile for iOS (or just the iPhone). This is after years of rumors and conspiracy theories on how Microsoft did not want to bring its biggest cash cow to the iOS. A couple of points to note though are that this is only for iPhone (for now?) and Office 365 subscription is required to take advantage of this app. 

Now Apple, its your time to payback the favor?  

You shouldn’t expect an iTunes app on Windows 8 any time soon. ITunes is in high demand. The welcome mat has been laid out. It’s not for lack of trying.
— Tami Reller, CFO, Microsoft

Also it makes sense for Microsoft to not release an iPad version alongside the iPhone version, mainly in lieu of the latest Microsoft Ad campaign