I have a good news for Mobile application developers out there to earn money from your application. Recently Google has announced the beta of Adsense for Mobile Applications. This is a program that will give advertisers a new way to reach potential customers while they're on-the-go and an opportunity for developers to earn revenue on their applications via text or image ads. The ads can be targeted by keyword, demographics, and location. For further info and if you want to sign up for the beta program, visit http://www.google.com/ads/mobileapps/
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