With the Flipboard iPad news application only growing in popularity, the company behind the software is launching an iPhone version. The iPhone variant of Flipboard looks just like and functions almost like its larger iPad sibling but is obviously formatted for the iPhone’s much smaller display. Flipboard explains Cover Stories, Flipboard’s latest enhancement:

[youtube http://www.youtube.com/watch?v=vfCaVzbvmVU]

Cover Stories come from all your Flipboard tiles, including social networks like Facebook, Instagram and Twitter. As you add more sources to your Flipboard, their posts will begin to appear in your Cover Stories.

Flipboard’s Cover Stories feature is currently exclusive to the iPhone and iPod touch, and an iPad version is coming at a later date. Flipboard for iPhone appears to still be propagating through iTunes, but is available for some. We have more screenshots of Flipboard for iPhone after the break.