2 Billion Downloads for Apple's App Store

Apple App Store is a service the company launched which allows users to browse and download applications from the iTunes Store that were developed with the iPhone SDK and published through Apple. Depending on the application, they are available either for free, or for a small cost. The applications are downloaded directly to iPhone or iPod Touch and now over 85,000 applications are available there.

"The rate of App Store downloads continues to accelerate with users downloading a staggering two billion apps in just over a year, including more than half a billion apps this quarter alone," Steve Jobs , Apple's chief executive officer, said in a statement.

"The App Store has reinvented what you can do with a mobile handheld device, and our users are clearly loving it," he noted.

According to Apple, it has sold more than 50 million iPhones and iPod Touch media players in 77 countries and regions . Its App Store now has 20 categories, including games, business, news, sports, health, reference and travel.

App Store currently generates 60 million to 110 million U.S. dollars in quarterly revenue for Apple, Toni Sacconaghi, an analyst from financial research firm Sanford C. Bernstein & Co., estimated in a report released last Thursday.

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