One of the many features of the iPhone was downloadable applications made by third parties, which could run on the phone. These applications consisted of games, navigation systems, restaurant finders, picture editors, and many more. These iPhone apps rapidly grew in popularity. At the time of this review there are over 23,000 different iPhone apps to choose from.

The App Store started in July of 2008. When it first opened, there were very few applications that users could download and use on their iPhones. However, the number of downloadable apps quickly grew. One of the reasons for this is because Apple allowed anyone who chose to, the ability to create and submit an application for review. If Apple liked the application, they added it for others to use. This enabled the number of iPhone apps to grow quickly due to user generated content.

Later in 2008, the iPod touch was introduced. It was basically the iPhone without the phone functionality as well as camera. Owners of iPod touches are able to download and use many of the same applications that iPhone users are able to use. This has enabled Apple to make much more off of their iPhone apps than they would if only iPhone owners were able to use the applications.

Applications range in price from free to over .00 for the more complicated and larger apps. The high flexibility of price allows anyone the ability to purchase the applications. Creators of highly popular apps are able to bring in income as well. Currently Apple shares a 30/70 revenue share with developers, developers keeping the latter.

Currently the Apple App Store has witnessed phenomenal success as the numbers of applications available grow rapidly with each new day. Since it is such a new form of business, Apple has almost a complete monopoly on the downloadable phone content market. The iPhone app store is accessible in many countries around the world, each having its own version. If Apple keeps up with their innovative products and high level of user created content, they could be well on their way to becoming one of the most successful businesses of all time.

The only thing that could get in the way of Apple’s huge success is if people stop buying the iPhone and iPod touch. If another company creates a similar product that is better and cheaper, then the iPhone app store may start to decline. However, many companies have tried to compete with Apple to no avail. It is likely that Apple will dominate the handheld entertainment market for some time to come.

If Apple continues on its current path, iPhone and iPod touch apps may soon compete with intricate console games and other hand held gaming devices such as the PSP and Nintendo DS. The main set-back that holds the Apple platforms from completely dominating the market is the high price tag. If Apple ever lowers their starting price, there will be almost no hope for other companies. Apple has created a truly unique and successful system with The App Store.

For more information on iPhone applications or to read more in-depth reviews ofiPhone apps visit AppCraver today. AppCraver is dedicated to iPhone apps, news, reviews and interviews with iPhone application developers.