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Apple to charge a premium to put ads in mobile application

Setting a high bar for its debut in the advertising business, Apple Inc. aims to charge close to USD1 million for ads on its mobile devices this year and perhaps even more to be among the first, ad executives say.

Apple is hitting the road to showcase its new mobile-device advertising capability, dubbed iAd, and has indicated it could charge as much as USD10 million to be part of a handful of marketers at the launch, according to a person familiar with the matter.