The app is "built on the same content as the Olympic mobile website", the announcement on the BBC Internet Blog explains, but the native apps give increased potential for personalisation and offline access.
iPhone and iPod Touch users can personalise content, "by adding their favourite Olympics sports to the customisable tab bar".
In addition to live and catch-up video content of the Games, there is "a page for each of the 36 Olympic sports", pages for each athlete and country, medal tallies and facts, plus commentary and schedules.
The app follows the release of a new BBC mobile-optimised sport homepage, providing video coverage of Euro 2012, F1 and Wimbledon.
According to the post by senior product manager in BBC Future Media Lucie Mclean, the team has used feedback from the previous releases in the "summer of sport" to improve the "video quality and reliability of playback".
There is a video of Mclean demoing the apps at this link.