The App Store is an application for the iPhone and iPod touch created by Apple Inc., which allows users to browse and download applications, from the iTunes Store, that were developed with the iPhone SDK and published through Apple. They are available to purchase or free, depending on the application.
The applications are downloaded directly to iPhone or iPod touch. The App Store is also available within iTunes. Whilst Apple has stated that they do not expect to profit from the store, it has been predicted by Piper Jaffray that the App Store could create a profitable marketplace with revenue exceeding USD 1 billion dollars annually for the company.
Apple offers 70% to instantly go to the seller of the app, and 30% go to Apple. The App Store opened early in the morning on July 10, 2008 via an update to iTunes. Applications were immediately available for download at that time.
However, iPhone and iPod touch software version 2.0 was not yet available through Software Update, making the applications unusable.
The iPhone software version 2.0 was released on July 11, 2008, and applications were able to be transferred onto the newly updated devices. As of September 18, 2008, there are 3,465 third-party applications officially available for the iPhone and iPod touch on the App Store.
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