ABBYY has TextGrabber (iTunes Link) for the iPhone, iPod Touch, and the iPad in the iTunes App Store for FREE (regularly $1.99) for a limited time.

ABBYY TextGrabber easily and quickly scans, translates and saves your chosen text or QR-codes from virtually any printed material.

Simply take a picture of the text on 60+ languages or QR-codes and immediately edit, hear it spoken aloud via VoiceOver, translate it into 90+ languages, send your text by SMS or e-mail, or share it quickly on Facebook, Twitter or Evernote. Translation is available as a separate in-app purchase.