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.”