Apple announced their iAd Advertising Platform that is built into the iPhone OS 4 that will be available this summer for the iPhone and later this fall for the iPad.
The iAd Advertising feature makes it easier for developers to add ads to their iPhone and iPad applications because it is built into iPhone OS 4 and based on HTML 5. Developers will see 60% of the advertising income, which means Apple will get a cut as well.
The good news for developers is that advertising will be easier to implement in iPhone and iPad Apps since it is part of the API in the iPhone OS 4. The good news for Apple is that they will get a cut of the advertising money. The good news for the user, well.... we will have to wait and see :)
Right now the iPhone OS 4 and the iAd advertising platform is currently in preview, which you can read more about on the Apple website here.
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