11 Jun 10

Apple secures $60m in advertising for iPhone 4G launch

Apple has secured $60 million of advertising for the iPhone 4G launch via its new iAd mobile ad network.

Brands such as Chanel, Unilever and Best Buy have already signed up to run mobile ad campaigns on the iAd network, which will launch on the fourth-generation iPhone on 1 July.

The new ad system, which has been built into the operating system for the iPhone 4, will allow users to stay within their apps while engaging with an ad, watching a video or playing a game, according to reports. Apple confirmed that it already has iAd agreements in place for 2010 worth more than $60 million. The company will sell and serve the ads, while app developers will receive 60% of advertising revenues.

This week, Apple's chief executive Steve Jobs unveiled the new iPhone 4G at the Worldwide Developers Conference in San Francisco. The new model, which will be available in the UK from 24 June, is 24% thinner than the latest handset, has a 5- megapixel camera with LED flash on the back and will allow users to see their callers and vice versa. Jobs said the iPhone 4G is the "biggest leap since the original iPhone".