I just downloaded the Microsoft Office on my iPhone 5s for free, but then it is paid to get subscription of Office 365 to edit the documents and save them to the cloud.
With this move, Microsoft has made the prior strategic partnership with the Dropbox justified as now you can use space from the Dropbox and save Office’s docs like Excel, Word and Power-point on your Apple and Android devices.
The people having a business subscription to Office 365 will not get this application for free. They will have to pay continuously for their business productivity suite & cloud platform as OneDrive.
It includes tons of options that are free and allows you to create and edit Word, Excel and Powerpoint files on your mobile device. So, it is more logical to make it free otherwise user base could have been damaged even more after free apps are running over software giants
People looking for download, here are the direct download links.