Previewed at WWDC, launching in the fall.
Jobs: $30 Million App Store Sales in First Month, Confirms Kill Switch
Some of the big winners amongst the sales include Sega's Super Monkey Ball [App Store] which saw over 300,000 downloads in the first 20 days. This represents over $2 million in net revenue for this $9.99 game alone. Meanwhile, the popular medical reference Epocrates [App Store] has seen over 125,000 downloads during its short time in the App Store. This compares quite favorably to Epocrates previously installed base of 500,000 other mobile users.
Also addressed is the recent discussion surrounding application removals. An Apple spokesperson described the pulling of the I am Rich application as a "judgement call".
Finally, Jobs confirms the ability to remotely disable an application:
"Hopefully we never have to pull that lever, but we would be irresponsible not to have a lever like that to pull"