Google CEO thanks Apple for iAds

Google chief executive Eric Schmidt has thanked Apple for introducing the new iAd advertising platform, saying it could give corporate regulators reason to approve its own acquisition of AdMob.

It is understood the American watchdog is hesitantly approaching the AdMob acquisition, feeling it could threaten developers who gain funds from selling ads.

However, Schmidt said on the weekend Apple’s own plan demonstrates “evidence of a highly competitive market” and that “I hope it gets approved”.

The new iAd mobile advertising platform introduced by Apple last week allows developers to introduce advertisements within actual apps themselves. Developers will hold 60% of the revenue from the ads, with Apple to act as a distribution channel.

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