BeamItDown software has just announced that its iFlow Reader eBook application will no longer be supported and that the company is going out of business. The reason for the closure of the company, according to BeamItDown, is Apple and the recent changes in its subscription policies.

Unfortunately for us and for you as an iOS user, Apple has decided that it wants all of the ebook business on iOS for itself and it has made mid-game rule changes that make it impossible for almost anyone but Apple to sell ebooks at a profit on iOS. They are now requiring us to give them 30% of the sale price of any eBook that we sell. This is greater than our total profit on these ebooks so we cannot possibly make any money on the sale. This makes it impossible to stay in business. We put our faith in Apple and they screwed us.

You can find out more information at the company’s website; such as how you can ensure any books that you have bought with iFlow can be safeguarded prior to the app and service disappearing for good.

Do any of our readers use iFlow? Do you think this could be the first of many developers who are set to struggle with Apple’s insistence on talking a 30% cut from the sale of eBooks etc? Let us know your thoughts in the comments!

[iFlowReader]