Stung by Apple's abandoning of Google Maps on iOS, Google (GOOG) says it will slash prices for high-volume access to its Maps API (previous) by 87%. Google is also staying committed to iOS via its own mapping apps, and is talking up the higher click rates obtained by new ad formats for its mobile maps. With mobile ads related to maps and locations accounting for an estimated 25% of mobile ad revenue, Google has plenty of incentive to invest heavily in this space.
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