Apple launch new iTunes complete with iPhone ringtone creator

Apple have obviously had enough of third-party software hacks taking advantage of the lack of official iPhone ringtone creator; at today's Special Event they've launched a new version of iTunes that, among other things, lets you buy ringtones from a choice of 500,000 tracks from the catalogue for the princely sum of $0.99.  That's $0.99 on top of the cost of the track itself, adding up to a not-insignificant $1.98.

It's good to have an official method, and I've no doubt that people will use it, but considering the third-party software is out there to take any mp3 and make a ringtone free, this does seem a case of Apple milking its advantage in the market.  The new service will be available from next week.