Apple's interest in mobile advertising clearly goes beyond flicking Google in the nads, since they spent $275 million on mobile ad company Quattro after losing AdMob to Google. In fact, according to BusinessWeek, Apple's mobile ad plans are downright ambitious.

"Mobile ads suck" is a sentiment BusinessWeek vaguely ascribes to Steve Jobs through a "source familiar with his thinking." So Jobs, along with "his lieutenants," have been talking about "ways to overhaul mobile advertising in the same way they had revolutionized music players and phones," two sources told BusinessWeek. (Worth noting, Quattro's former CEO is now VP of mobile advertising at Apple.)

Why care so deeply about mobile ads? Besides the ongoing Google rivalry, which stands to get even testier in the mobile space—just check out figures like ones out of this 424-page Morgan Stanley report, which talk about how the mobile internet will be twice as big as it is on the desktop. (Also, this.) The first guy to really figure out mobile ads (whatever that entails)? Wins a truckload of money. Case in point: Google figured out search advertising. Look where they are today.

Mobile browsers aside, just think of all of those free and cheap iPhone apps with room for innovative advertising to make somebody even more money. Not us, though. [BW via Alley Insider]