So some blogs are reporting, based on some e-mail invites Google has sent out: “Adsense for mobile allows publishers to place adsense contextual advertising on website designed for mobile (cell) phones to monetise that traffic.” Essentially contextual ads on Wap/Mobile sites.

Updated: IDG confirms this with Google: Google confirmed that it is conducting a limited beta to test AdSense for mobile. The company plans to evaluate the beta and refine the product based on feedback from users, it said. Sites must be written in one of three mobile markup languages: WML, XHTML, and cHTML (compact HTML) in order to use AdSense for mobile, according to this help page.

From B2.0 Blog: Mobile ads are available in 13 countries: the United States, the United Kingdom, Japan, Germany, France, Italy, the Netherlands, Spain, China, Ireland, India, Russia and Australia. Advertisers can target their ads to specific countries. Google says the cost is similar to its standard PC Web ads….The ads contain two lines of text, with 12 or 18 characters per line, depending on the language. Advertisers have the option to let people call their business directly from the ad. Advertisers pay only when someone clicks on the ad, or initiates a call from the ad.