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As of this writing, there are no native Microsoft Office apps available for the iPhone. In the meantime, several compatible apps have been released, many of which work very well. The best offer document creation and editing, synchronization with related desktop software, and remote or “cloud-based” storage. Here are some of my favorites.
The Quickoffice Connect Mobile Suite lets you create and edit Microsoft Word and Excel files, including .DOC, .DOCX, .XLS, and .XLSX.