The iTunes store is already loaded with photo-editing apps, but Adobe’s new Photoshop.com Mobile app (free, iTunes link) is likely to attract a following from those who rely on Adobe’s industry-leading software.

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It’s somewhat surprising that Adobe went the free route with their Photoshop app. After all, you’ll have to fork over $700 for a license to the latest version of Photoshop CS4 software. Of course, Photoshop.com Mobile offers only limited photo-editing functionality, so it’s not going to replace your desktop version. The app includes the basics like crop and rotate, in addition to color correction (exposure, saturation, tint, black & white, etc.) and a variety of photo effects and filters. You can also store up to 2GB of photos at Photoshop.com or email your pics directly from the app.

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The app looks pretty solid so far, but can it compete with established apps like Photogene — our favorite photo-editing application for the iPhone? Look for a full review in the future.

Photoshop.com Mobile is a free download at the iTunes store.