The Financial Times recently announced the arrival of its first iPhone application. The app is compatible with any iPhone or iPod Touch using Apple's latest operating system, OS 3.0. In addition to providing FT readers with current news, analysis and unique market data, the app offers a currency converter and access to a world map.

Previously, FT readers could access "an executive briefing" by visiting said newspaper's mobile website, m.ft.com from most any mobile phone. The mobile website generated 60% of its traffic from iPhones and Blackberries combined. FT's graduation from mobile site to mobile app is "part of our overall goal of making sure our users get the best possible FT experience on any device," said FT.com's lead product manager, Stephen Pinches.

The FT's move brings it into line with competitor the Wall Street Journal, which unveiled its mobile application in April. Both the FT and the WSJ applications are currently available for free download, but the latter clearly states in its terms and conditions that "access to subscriber-only content [is] available for a limited time only. Echoing its online strategy, the FT offers three free articles per month while registered users can read up to ten. Paying subscribers will be able to access a wider variety of items, including special feature items. Premium users will also have access to the FT's regal eagle column, Lex.

News Corp chief digital officer Jonathan Miller said at the Hollywood Reporter's Digital Power event in New York, that the popularity of iPhone apps signals "the beginning of a very strong app economy." Can mobile news provide a significant revenue stream for newspapers?

See here for a demo video of the FT app

Source: Press Gazette, Journalism.co.uk