Despite the recent problems and bad publicity surrounding Apple’s new iPhone 4, the BBC has woken up to the fact that the handset is a potential money spinner.

The broadcaster has produced a new news application which both iPhone and iPad users can download. It will be available on other platforms at a later date.

Speaking with mobilenews.omio.com David Madden, the BBC’s application director said: “[the BBC} aim[s] to put the latest news from BBC journos into the palm of your hand.”

The application itself comprises news from the world of Business, Health, Politics, Education, Technology, Science and Environment and Entertainment as well as top UK and International stories. It will also cover features and analysis from correspondents around the world.

The application will allow users to skim through the headlines without having to read everything that’s sent to the handset. They can also pass on anything read to their favourite social networking sites such as Twitter and Facebook or just the items via email.

Although BlackBerry and Android users may be feeling a little left out, the BBC has assured mobilenews.omio.com that it is only a matter of time before they too will be offered the application.

However BlackBerry 4.3 users can download a number of launcher applications giving access to BBC News, BBC Sport and BBC Mobile websites. You can get these from BBC website initially with the apps being uploaded to BlackBerry App World over the coming weeks.