Apple reportedly introducing ads in Maps app

Investing.com -- Apple Inc. is preparing to introduce advertising in its Maps app as part of efforts to generate more revenue from services, Bloomberg reported Monday.

An announcement could come as early as this month, according to the report. The system will reportedly operate similarly to advertising in Google Maps, allowing retailers and brands to bid for ad slots against search queries.

The program would let a restaurant bid for a search term, such as sushi. When a user seeks that type of food, an ad for the location of the highest bidder would appear at the top of the results. Google and Yelp Inc. use a similar approach in their respective platforms.

Under Apple's plan, the ads will begin appearing inside Maps as early as this summer on the iPhone and other devices, in addition to the web.

The increased ad revenue will bolster a services business that already generates more than $100 billion a year for Apple. The operation now accounts for more than a quarter of the company's sales, up from less than 10% a decade ago.

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