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ltbr/gt1. What are theEYE on the NEWS Perfect Competition in Smartphone Apps From Zero to 75 Billion in Six Years When Apple launched its App store in July 2008, it had 10 million downloads in
the first weekend. That number grew to 100 million in first two months, 500 mil-
lion in first six months, and 1 billion in the first nine months. By mid—2014, down—
loads hit 75 billion and was growing at 800 apps per second. At its launch, the store had just 552 apps, but within six months, that number
had grown to 15,000 and the pace of growth accelerated. Total apps passed the
million mark in October 2013 and hit 1.2 million by mid-2014 and continue to
grow at a pace of 25,000 to 30,000 new apps a month. As the app market grew, so did the number of app developers, which had
reached 6.1 miliion by mid-2013 and 9 million by June 2014. Developers began to see the cash flowing in. Although Apple takes a 30 per
cent cut, it had paid developers $1 billion by June 2010, $10 billion by June 2013, and $13 billion by June 2014. Google’s app store opened three
months later than Apple’s but it grew
even more spectacularly to top 1.3
million apps in 2014. Most apps (62 per cent) are free
and of those that are not free, the most
common price is 99 cents, but one
gaming app costs $999.99. Games represent 18 per cent of apps
and education another 11 per cent. Sources of information: TechCrunch. quot;iTunes App
Store Now Has I.2 Million Apps. Has Seen 75 Billion
Downloads to Date,‘I 2 June 20H: Forbes. ‘l million
Apps on Apple’s App Store,quot; | | December 20I3; apps-
wondnet. ll July 20l3: and stafisficacorn. 28 August
2004. Essence of the Story 0 Apple has l.2 million Apps. a
number that is growing by 25.000
to 30.000 per month. 0 75 billion apps have been
downloaded. 0 Nine million people have register-
ed as Apple app developers, up
from 6.| million a year earlier. 0 Apple has paid $ | 3 billion to App
developers. 0 App prices range from zero (for
62 per cent of apps) to $999.99 and the most common price is
9995. Economics