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EYE 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 inthe 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 numberhad grown to 15,000 and the pace of growth accelerated. Total apps passed themillion mark in October 2013 and hit 1.2 million by mid-2014 and continue togrow 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 hadreached 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 percent 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 threemonths later than Apple’s but it greweven more spectacularly to top 1.3million apps in 2014. Most apps (62 per cent) are freeand of those that are not free, the mostcommon price is 99 cents, but onegaming app costs $999.99. Games represent 18 per cent of appsand education another 11 per cent. Sources of information: TechCrunch. “iTunes AppStore Now Has I.2 Million Apps. Has Seen 75 BillionDownloads to Date,‘I 2 June 20H: Forbes. ‘l millionApps on Apple’s App Store,” | | December 20I3; apps-wondnet. ll July 20l3: and stafisficacorn. 28 August2004. Essence of the Story 0 Apple has l.2 million Apps. anumber that is growing by 25.000to 30.000 per month. 0 75 billion apps have beendownloaded. 0 Nine million people have register-ed as Apple app developers, upfrom 6.| million a year earlier. 0 Apple has paid $ | 3 billion to Appdevelopers. 0 App prices range from zero (for62 per cent of apps) to $999.99 and the most common price is9995.