Adobe has kind of a scattershot mobile strategy. On the one hand, it released six apps back in 2011 for tablets that ranged from okay to awesome. On the other hand, it killed off five of them last year. The tablet versions cost $10 each. Pricey for an app, but Adobe knows how to bring it's A-game. Today, it's bringing it again with a phone version of Photoshop Touch. A distinct piece of software for $5.
Nearly all of the features of the tablet version are available here, including layer support, selective editing, and an array of touch-friendly gestures and menus that made the original app so dang nice.