iPhone applications to be delivered via wireless download; Apple takes 30% cut

Much like the Installer.app application used to install unofficial iPhone applications, official iPhone applications will be delivered wirelessly to the iPhone via “App Store,” a new program that will be added to the iPhone in the next software update.

All of the hosting, credit card transactions, etc. will be handled by Apple.

Developers will be able to set whatever price they want for applications, but Apple will take a 30% cut of revenues.

There will also be a mechanism to download applications onto your computer then transfer them.

For free applications, there will be no charge to the developer.