Financial Times Cuts Apple Out Of The Loop

A new browser-optimised subscription app, aimed at Apple iPad and iPhone users, has been unveiled by the Financial Times to replace the app that is no longer available through the Apple store.

This move will offer FT readers an HTML 5 based site with a "true cross-platform experience."

Also, the move will make sure that the newspaper retains 100 percent of its profits instead of giving 30 percent to Apple as it had been doing, TechRadar reports.

FT is taking a small risk in this move, because signing up for a subscription and managing on FT account will become somewhat more complicated for customers, but doubling their profit from remaining customers has at least a good chance of making up for those losses.

FT also disclosed they will keep on offering the app through the App Store until June 30. Apple had previously issued June 30 as the deadline for companies to adhere to its guidelines.

With newspapers and magazines around the world struggling to find revenue, giving 30 percent away to a third-party platform is undoubtedly painful, and publishers will surely be watching to see how FT's departure from the App store pan out.

Other publishers, notably Playboy, have already had to set up browser-based subscriptions because they were banned from the App store entirely.