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


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