Tech Giant Apple Hits Record App Store Sales Despite Tensions with Software Companies


Credit Apple



On Wednesday Apple released its annual services report and announced stupendous sales figures. Its App store customers spent a record $540 million, on a single day – New Year’s Day. These sales were a 40% increase from 2019.


Other astonishing sales figures included App Store sales totaling $1.8 billion for digital goods and services. These sales figures were for the holiday week — from Christmas Eve to New Year’s Eve. It also said that its Apple Book app currently has 90 million active users.


The report did not mention updates on subscribers for its new subscription plans. It had launched new plans and in-house apps including Apple TV+, Apple Music and Apple Fitness+ after dethroning its competitor Peloton. It also launched Apple One, where it added several services together. The service category is a key growth area for the company and is the current focus of tech giant as hardware sales have decreased in the past few years.


The company’s App Store update comes at a time when tensions are rising between the tech giant and its competitors especially Facebook which has started a public war with Apple on its privacy policies. Epic Games, the maker of the popular game Fortnite, has criticized the company for taking a 30% cut in App store sales. Apple has been very fair and spoken extensively about the issue and has proven that the allegations are false and are aimed to suppress its tech dominance.


Apple recently took a step forward by decreasing its cut to 15% from companies whose revenues are less than a million dollars in App Store sales. Apple said that this cut was taken to help small companies and businesses who sell their apps in the Apple Store.

Source CNBC

Follow us on Google news for more updates and News


This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer