Apple announces iAd mobile advertising platform

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Cupertino, Calif.—Apple Inc. has launched an advertising platform for the upcoming update of its iPhone mobile operating system.

Called iAd, the platform will allow developers and publishers to insert ads into their apps. It will be incorporated into the iPhone 4.0 operating system announced Thursday and to be released this summer for both the iPhone and iPod. It will be available to users of the new iPad tablet computer by the fall.

The ads will be sold by Apple, which will retain 40% of the revenue. The new platform stems from Apple's $275 million purchase of mobile ad company Quattro Wireless earlier this year.

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