UPDATE: The Flipboard app for iPhone is here. Go get yours from the iOS App Store. The app is free and is compatible with iPhones 3GS and up and requires iOS 4.0 and up.
Flipboard, the news reader app for the iPad is restructuring itself for an iPhone release, coming tonight. According to Mashable, the app is realigning its tiles for the iPhone in stacks, so that users scroll up and down for their news, instead of from left to right. Flipboard CEO, Mike McCue says that this is the natural movement of iPhone users. The app has been redesigned to meet the needs of news readers using iPhones, as well as maintain Flipboard's own aesthetics.
Flipboard's coming to iPhone
The big feature in Flipboard's iPhone app is something called, “Cover Stories'. The feature uses Flipboard's algorithms to pull up stories that are most relevant to you and your friends. The feature is constantly learning, so it improves the more you use it. This feature will come to Flipboard's iPad app soon. Flipboard is also working on the app to make it more relavent for users in other parts of the world. The app is also likely to stick to iOS, for now, however there are plans to expand to Android “very gradually”.