This afternoon Apple announced a $99 iPhone with a new cut, copy, and paste function and a 2-megapixel camera--putting the company in charge of a popular, newly-affordable device that obsesses many literary types.

As the price-point lowers, more readers may be seeking out the numerous literary iPhone apps covered here on GalleyCat, including: Stanza, Amazon Kindle for the iPhone, the IndieBound App, and the amazingly popular book promo, Urinal Test.

Most importantly, GalleyCat readers might want to know how to build a literary iPhone app. Earlier this month, GalleyCat interviewed Matt Supko about how he developed the popular ABA/Indiebound book-buying app and landed 50,000 downloads in a few action-packed months.