By Slash Lane

Published: 03:35 PM EST (12:35 PM PST)

As Apple is rumored to soon unveil a new subscription service for applications on iOS devices, popular U.K. newspaper The Guardian has revealed that it hopes to release a new subscription-based iPhone application before Christmas.

The publication announced Thursday that it will remove its current application from the App Store, and replace it with a new subscription-based app that will cost £2.99 for six months and £3.99 for 12 months. The Guardian will also have an ad-supported version released in the U.S. for free.

Jonathon Moore, the mobile product manager for The Guardian, did not indicate that the subscription plans will be a part of Apple's rumored iOS update for the iPhone. But the timing does coincide with rumors of a media event scheduled for Dec. 9 or soon after to announce a subscription billing option for applications.

"We'll be launching the new app globally for the first time and although we can't confirm exactly when it will be available, we're working towards a pre-Christmas release," Moore wrote. He also confirmed that the publication is working on an iPad application.

One rumor has suggested that Apple plans to release iOS 4.3, a new update for its mobile operating system that powers the iPhone and iPad, in December. That update will allegedly include the ability to have recurring app subscriptions through an iTunes account.

Apple is said to have worked closely with News Corp to create a new tablet-only newspaper called The Daily, expected to launch in a matter of weeks. The publication, which will not have an online or print edition, reportedly has 100 journalists working from the 26th floor of the News Corp offices in New York.