Apple has allowed an update of Microsoft’s SkyDrive cloud storage app to be released for iOS, following a period in which the two companies were at loggerheads over the product.

Version 3.0 of the app is now available in Apple’s App Store, after SkyDrive went without an update for almost two years.

Microsoft objected to Apple’s request to take a 30 per cent cut of revenue generated through users purchasing extra storage via the SkyDrive app.

Under Apple’s standard terms, developers must hand over 30 per cent of sales generated by apps distributed through the App Store.

When Microsoft introduced subscription purchase functionality to SkyDrive, it was unable to update the app in the App Store due to Apple’s refusal to approve it.

A Microsoft spokesperson told The Verge that the new iOS app differs from earlier versions as users can only buy additional storage via the web, as opposed to within the app.

The issue for Microsoft appeared to be that the additional revenue Apple was chasing lasts in perpetuity regardless of whether a user continues to use an iOS device to access SkyDrive, as users are billed through their Apple account.

Therefore, if a user moved to an Android or Windows Phone device but had previously signed up for additional SkyDrive storage via an iOS device, Apple would continue to collect 30 per cent of revenue.

The updated SkyDrive app brings support for the iPhone 5 and iPad Mini and allows full resolution pictures to be downloaded to iPhones and iPads. A number of bug fixes and performance improvements have also been added.