Wonder what this will do to revenues.  This from Business Times:

Apple Inc. 's iAd mobile advertising business is struggling to keep top clients, cutting rates by up to 70 percent, Bloomberg reports citing people familiar with the matter.

Apple (NASDAQ: AAPL) was initially charging clients such as Citigroup Inc.(NYSE: C) and JC Penny Co. Inc. (NYSE: JCP) $1 million or more to run campaigns, when it rolled out the iAd service a year ago.

The report says Apple is now charging as little as $300,000 for packages as clients have turned instead to Google Inc. 's (NASDAQ: GOOG) AdMob, Millennial Media and Greystripe.

Still, Apple has the advantage of the largest selection of mobile apps for its iPhone, iPad and iPod Touch, which provide a rich venue for ads to run on, the report notes.