Here is an excerpt from the official announcement posted at the Mozilla blog :
"Firefox Home for iPhone is part of a broader Mozilla effort to provide a more personal Web experience with more user control. For devices or platforms where we’re unable to provide the “full” Firefox browser (either technically or due to policy), we aim to provide users with “on the go” instant access to their personal Firefox history, bookmarks and open tabs on their iPhones, giving them another reason to keep loving Firefox on their desktops."
A video sneak peak of the preliminary, non-branded version of the Firefox Home app for iPhone is also posted and can be seen after the jump.