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Aug 11, 2008

$1 billion App Store marketplace

With 60 million downloads in one month, Jobs throws out the possibilty of a $1 billion App Store marketplace

MG SIEGLER Apple’s App Store for the iPhone and iPod Touch launched exactly one month ago. In that time over 60 million applications have been downloaded, Apple chief executive Steve Jobs told The Wall Street Journal in an interview. Any way you slice it, that number is simply impressive.

Perhaps even more impressive is that even though most of the application available in the App Store are free, Apple is selling an average of $1 million a day worth of apps. That equates to $30 million in sales in the first month, and extrapolates out to about $360 million for the year if sales stay the same. I would imagine that instead the sales pace will quicken, and Jobs seems to agree, “This thing’s going to crest a half a billion, soon. Who knows, maybe it will be a $1 billion marketplace at some point in time,” he told the WSJ.

As many of us expected, it seems the App Store is big business...

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