When we first ran into Shape’s Photo Translator in beta testing I was pretty impressed with the app. It is nowhere near 100% accurate but it was good enough for many tasks like translating a word or sentence on a menu. Shape let us know that after their beta testing campaign they have released Photo Translator for all to use for a reasonable price of $4.99 in the store.
The app supports English, French, Italian, German, Spanish, Czech, Dutch, Greek, Chinese Traditional, Chinese Simplified, Japanese, Korean, Thai, Arabic, Croatian, Hebrew, and many other languages. It also lets you save text as a memo or send it via email.