Apple’s App Store sales hit $20 billion in 2015 after record-breaking Christmas

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Customers spent more than $20 billion (£13.7 billion) in Apple’s App Store last year and were particularly active in the two weeks spanning Christmas and New Year, breaking traffic and sales records.

The tech giant said that the two weeks ending January 3 saw over $1.1 billion splashed on apps and in-app purchases.

January 1 was its biggest day in history thanks to purchases worth over $144 million. That broke the previous record set a week earlier on Christmas Day.

Apple gets 30 cents of every $1 spent in the App Store meaning it will have raked in $6 billion from the activity.

The rest of the cash is pocketed by developers. Apple said it has now paid developers almost $40 billion.

$144bn

The total spent in the App store on New Year’s Day

Apple’s annual revenue was $234 billion last year, while profit was $53.4 billion.

While Apple did not provide exact 2015 figures for the App Store or explain how it compared to previous year’s performance, calculations by the Wall Street Journal suggested that growth there was slowing.

The newspaper, citing earlier statements by the company, said that year-on-year growth at the App Store was likely to have been about 43% versus a rate of 50% in 2014.

Apps are important for Apple as they can boost the appeal of its devices.

This could become key in the near future as demand for consumer electronics stagnates.

A survey of 28,000 customers by Accenture shows that demand for flagship products like smartphones and tablets is on the wane, while it is flat for Internet of Things devices like smartwatches.

The company’s shares took a battering on Tuesday after Japan’s Nikkei Asian Review reported that its suppliers were expecting production of latest iPhone 6s and iPhone 6s Plus to be cut by 30% as stocks piled up.

Source Article from http://www.standard.co.uk/business/apples-app-store-sales-hit-20-billion-in-2015-after-recordbreaking-christmas-a3150131.html

January 7, 2016 |
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