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App Store Selling $1M a Day: Jobs

'I've never seen anything like this,' Apple boss says

By Kevin Spak, Newser Staff

Posted Aug 11, 2008 9:01 AM CDT

(Newser) – The iPhone’s new App Store has exceeded the company’s wildest expectations, tallying up average sales of $1 million per day, Steve Jobs said today in an interview with the Wall Street Journal. Apple’s on pace to make $360 million from the store this year. “This thing's going to crest a half a billion, soon,” says Jobs. “I've never seen anything like this in my career for software.”

But stratospheric sales and revenue numbers won’t translate into much profit, since Apple takes just enough money from sales to cover costs—but Jobs thinks the store helps sell the iPhone in the same way iTunes boosted the iPod. Jobs also confirmed rumors that the phone has a controversial means of disabling undesirable programs, saying, "Hopefully we never have to pull that lever, but we would be irresponsible not to have a lever like that to pull."

[Images (5)]

[Quotes (1)]

A game's splash screen is seen on the iPhone. (AP Photo)

People wait in line to buy an iPhone in front of an image of the phone in Mexico City, Friday, July 11, 2008. Apple Inc.'s new iPhone went on sale Friday to eager buyers worldwide. (AP Photo/Gregory Bull)

In this Oct. 19, 2007 file photo, a customer holds an Apple iPhone at the Apple store in Palo Alto, Calif., Friday, Oct. 19, 2007. (AP Photo/Paul Sakuma, file)

A customer in the queue looks at a new Apple iPhone 3G being put on sale for the first time at Apple retail store in Regent Street, London, Friday, July 11, 2008. (AP Photo/Sang Tan)

Model holds the new iPhone during the first day of the release in Hong Kong, Friday July 11, 2008. (AP Photo/Kin Cheung)

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Hopefully we never have to pull that lever, but we would be irresponsible not to have a lever like that to pull - Steve Jobs, on the iPhone's secret application kill switch

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App Store Selling $1M a Day: Jobs