MacScoop is reporting that although applications built with the SDK are expected to be limited in their ability to operate with attached peripherals, they will be able to access both WiFi and EDGE.
The site also notes that Apple is expected to take a "small percentage" of revenue from iPhone application sales. The site was unable to ascertain information about free application distribution, but Electronista has previously reported that Apple would not restrict the distribution of free applications.
Finally MacScoop also reports that the SDK will require Mac OS X 10.5 and will come in the form of an updated version of Xcode.
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