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The business of… Apps

iPad, iPhone, smartphones, apps… People in the technology business love making up words, apparently. They love making cash, too – and the latest big business is ‘the app.’

May 4, 2011 12:30 by

Apps Store

The Apple App Store is precisely what it sounds like, it is the place where users of the iPhone, iPod touch, and iPad go to browse, download, and upload various applications. While some applications are free of charge, others require the user to pay a fee. 70 percent of the fee is given to the seller of the application and 30 percent stays with Apple. As of October 20, 2010, Apple announced they crossed the 3 million mark for applications available on the store, with more than 7 billion total downloads. That’s a lot of cash.


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