‘Wall Street Journal’: Apple App Store sales hit $30 million
Posted by Dennis Sellers 
Aug 11, 2008 at 12:15pm
Apple opened its Apple App Store, which sells products for the iPhone and iPod touch, about a month ago and has been averaging sales of US$1 million per day for a total of $30 million or so this far, reports the Wall Street Journal
If sales stay at the current pace, Apple stands to reap at least $360 million a year in new revenue from the App Store, Apple CEO Steve Jos told the WSJ. “This thing’s going to crest a half a billion, soon,” he added. “Who knows, maybe it will be a $1 billion marketplace at some point in time.”
Apple isn’t likely to derive much in the way of direct profit from the business, Jobs said. The company is keeping only 30 percent of the proceeds from application sales—about enough to cover expenses from credit-card transactions and other costs of running the online store—while the programs’ creators keep 70 percent, the WSJ adds.
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
