Is running the App Store only breaking even for Apple? According to Apple Analyst Gene Munster at Piper Jaffray, that's exactly the case.
After sharing out cash to developers, with a gross margin on App Store sales of about 44%, that equates to a profit of around $429 million over the store's lifespan. With Apple's gross profit for this period equating to some $33.7 billion, this means Apple's profit contribution from the App Store is just 1%.
One percent is not much at all, folks, especially given the volume of attention (read: cash input) Apple must be paying to keep the entire ecosystem ticking over smoothly.
We prefer to take numbers not coming from the horse's mouth with grains of salt, but even with 1% of profit helping drive millions of iOS device sales, it can't all be that bad right? Check out Fast Company for the story.