iPhone Applications: Close to Half A Billion Dollar Industry

Apple knew they had a big opportunity on their hands when they released the iTunes application store for iPhones and the iPod touch. How big the opportunity was exactly nobody really knew. Today, the Wall Street Journal is reporting that “in the month since Apple opened [..] the App Store, users have downloaded more than 60 million programs for the iPhone.” The article continues to state that “Apple sold an average of $1 million a day in applications a day.”

Compare that to social platforms where all the money is generated through advertising revenue. While all that may change with the launch of a Facebook payment platform, the creation of a sizable industry overnight will most definitely attract new developers. It will also definitely attract competing platforms. Google is still rumored to be launching the Gphone but one report has said that the phone launch could be delayed to next year.

According to mocoNews, “Starting this fall, T-Mobile USA will take the extraordinary step of ditching its traditional deck on the phone and replacing it with a platform that’s open to almost any developer”. You can also guarantee that Microsoft is not just going to remain idle while Apple creates an entire industry. The result is that we are about to witness the mobile platform wars since as Steve Jobs states, “the phone of the future will be differentiated by software.”

It has only been a little over a month since the iPhone launched but it appears to be living up to the hype and doing what was expected: transforming the mobile industry.

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