Set your price,
sit back and smile

Google's Android Market, an App Store-style destination first announced in August 2008, is now accepting for-profit applications from US and UK-based developers.

Mobile applications, and their retail rates, can be uploaded on the website. Google Checkout will be used as the payment/billing mechanism for all Android Market transactions.

Paid apps will reportedly be accepted in Germany, Austria, the Netherlands, France and Spain later this quarter. Google will take a 30% cut of app profits.

In the past few months news from the Googleplex has been sobering at best. The company recently announced plans to shut down its radio ad business and cut staffers, fast on the heels of news that it would shut down a handful of other services and lay off a "substantial number" of temps.

But provided the popularity of Android ever parallels that of Apple's iPhone, more generous income streams may open for the search/ad giant. In the first five months of its launch, the App Store served 300 million app downloads — contributing significantly to Apple's bottom line.

Unlike the iPhone, which is only one unit, Android is a platform. Over time, users will be able to choose from a number of Android-ready phones — all of which will likely support Android Market use. Mainstream acceptance of Android, and copious use of the Market, will also stimulate Google Checkout.

At present, only one Android phone exists on the market. It debuted in September.