Returning nil in the init in Objective C code

In the case, if we return nil in the init method, what's happening with retain count and who is going to release this object?

As I undertand as soon as we called alloc (which will happen before init), the retain count will become 1. Now, init is called and let say for some reason it can't initialize the object, so it returns nil.

And it looks like now we have the object with retain count equal 1 and nobody has reference to it to call release.

Should we call [self autorelease] in init for such case or do something else?