Oh, we bet Google is none too happy about this news. It looks like we can stop speculating about Apple getting into mobile advertising after all – they’ve arrived already.

According to TechCrunch, Apple’s iAd advertising platform is designed to benefit the advertiser and Apple relatively equally. The idea is to allow app developers to show Apple-hosted advertising from within the app. In turn, the developer gets to pocket 60% of the revenue. Needless to say, if Apple blocks AdMob in the process or doesn’t allow it to run the same type of campaigns as iAd, it will lose a lot of business to Apple.