iOS iPhone Utilities
32X Magnifyer is the most powerful Magnifying Glass of the AppStore. You can get up to 32 magnification while maintaining image quality.
Just move the slider on the screen to switch from 2 to 32 magnification of the image. You can enable or disable the viewfinder just touch the screen.
Optimized for iPhone 4 you can also turn up the flash light for a better quality or just to use it as a torch.