Erica Sadun over on TUAW has received a tip that the latest firmware release for iPhone includes code for an app called iControl.

Like Apple TV and other remote controllers, it would allow the iPhone to connect wirelessly to local iTunes libraries and browse through and play media from those sources.

With the SDK being released, it’s certainly not inconceivable that Apple wouldn’t want to release its own apps, and iControl could well be one of them. Wireless media browsing certainly sounds interesting, even if the PSP did get there first !