App Store Spending Jumps 37% During Final Week of 2018

Apple’s App Store experienced a significant upsurge in activity over the 2018 holiday period.

Spending reportedly rose by 37%, compared to 2017, up to $1.22 billion during the week beginning on Christmas Eve.

New Year’s Day also increased by 7.3% year-on-year to $322 million, which is a single day record for the technology giants.

The peak is largely thanks to online multiplayer games, with Fortnite and PUBG being the most downloaded apps.

Apple is hoping that revenue from the App Store will help to make up for dwindling iPhone sales, especially in China. Share prices have plummeted by 38% over the past few months, potentially due to the failings of the iPhone X.

After becoming the first company to be worth $1 trillion, Apple’s market cap currently sits at just over $700 million.

It is notable that Apple didn’t reveal the 2018 earnings for iOS developers, like it has done in previous years. The company was recently called to go before the US Supreme Court after claims it is violating anti-trust laws by taking 30% of all App Store sales.

The App Store generates around double the revenue of the Google Play Store, despite only having half the number of downloads.

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