Apple Rumored to Charge up to $10 million for iAds

Rivaling ads that are displayed during the Superbowl, Olympics and other popular events, Apple may soon start charging companies up to $10 million to have their mobile ads on their devices.

Apple has indicated that prices for their online advertisements for their new iAd platform for iPhone and iPad may start at $1 million and run up to $10 million. Since Apple released the first iPod in 2001, the interest in the handheld, portable devices has increased at an astronomical level.

Current ads on other mobile networks run anywhere from $100,000-$200,000 so the new price range will be quite a jump for most. App developers will reportedly receive 60 percent of the profits, while the remaining 40 percent will be banked by Apple.

[As Reported By: Reuters]