Sales worth $519 billion (Dh1.9 trillion) were facilitated through Apple's App store last year, the US technology company said, citing the findings of a new study.
Physical goods and services accounted for the biggest share – nearly 80 per cent of the total sales at $413bn, economic consulting firm Analysis Group revealed in a study supported by Apple.
“In a challenging and unsettled time, the App Store provides enduring opportunities for entrepreneurship, health and well-being, education and job creation … helping people adapt quickly to a changing world,” Tim Cook, Apple’s chief executive, said on Monday.
“We are committed to doing even more to support and nurture the global App Store community, as it continues to foster innovation, create jobs and propel economic growth for the future.”
The amounts cited include app purchases, physical and digital goods and services bought through apps, as well as items bought through other channels, such as a video streaming services, that are principally consumed through apps. However, it also subtracts billings from in-app purchases made through the App store that are principally used elsewhere.
The physical goods and services purchased included $268bn of general retail goods, $57bn of travel services, $40bn in ride-hailing purchases, $31bn of food deliveries and $14bn of groceries. These were bought either through company-owned apps or virtual marketplaces.
Digital goods and services, from which Apple takes up to 15 to 30 per cent commission, generated $61bn. These include apps for music and video streaming, fitness, education, e-books, audiobooks, news and magazines, among others.
In-app advertising sales accounted for $45bn – $20bn of which came from games. Non-gaming apps that generate substantial in-app advertising sales are often free to download and use, such as Twitter and Pinterest.
More than 85 per cent of the App Store sales went to third parties, Apple said.
“Apple only receives a commission from the billings associated with digital goods and services … more than 85 per cent of the $519bn accrues solely to third-party developers and businesses of all sizes,” the company said.
An app store is a digital distribution platform for mobile apps. Industry experts say the number of mobile app downloads will continue to grow in the coming years.
More than 205 billion apps across all platforms were downloaded in 2018 and this number is predicted to reach almost 260 billion in 2022, according to research company Statista.
Launched in 2008, the App Store is home to almost 2 million apps and is visited by half a billion people each week across 175 countries.
Apple is set to hold its annual Worldwide Developer Conference (WWDC) next Monday, with this year's event taking place virtually. The Cupertino-based company typically announces new updates of its operating systems to developers at the event.
Apple is also under increasing regulatory scrutiny over the operation of the App Store, with lawmakers questioning the various business practices of the App Store.
The company has repeatedly said it is a “flourishing economy” that is helping millions of developers globally.
“The results [of the study] encapsulate the full sweep of the dynamic, competitive, and flourishing app economy, which has unleashed a torrent of innovation and revolutionised the way the world learns, works and connects,” Apple said.
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
Healthy tips to remember
Here, Dr Mohamed El Abiary, paediatric consultant at Al Zahra Hospital Dubai, shares some advice for parents whose children are fasting during the holy month of Ramadan:
Gradual fasting and golden points - For children under the age of 10, follow a step-by-step approach to fasting and don't push them beyond their limits. Start with a few hours fasting a day and increase it to a half fast and full fast when the child is ready. Every individual's ability varies as per the age and personal readiness. You could introduce a points system that awards the child and offers them encouragement when they make progress with the amount of hours they fast
Why fast? - Explain to your child why they are fasting. By shedding light on the importance of abstaining from food and drink, children may feel more encouraged to give it there all during the observance period. It is also a good opportunity to teach children about controlling urges, doing good for others and instilling healthy food habits
Sleep and suhoor - A child needs adequate sleep every night - at least eight hours. Make sure to set a routine early bedtime so he/she has sufficient time to wake up for suhoor, which is an essential meal at the beginning of the day
Good diet - Nutritious food is crucial to ensuring a healthy Ramadan for children. They must refrain from eating too much junk food as well as canned goods and snacks and drinks high in sugar. Foods that are rich in nutrients, vitamins and proteins, like fruits, fresh meats and vegetables, make for a good balanced diet
Naga
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Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
HOW DO SIM CARD SCAMS WORK?
Sim swap frauds are a form of identity theft.
They involve criminals conning mobile phone operators into issuing them with replacement Sim cards, often by claiming their phone has been lost or stolen
They use the victim's personal details - obtained through criminal methods - to convince such companies of their identity.
The criminal can then access any online service that requires security codes to be sent to a user's mobile phone, such as banking services.
How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
MEYDAN CARD
6.30pm Al Maktoum Challenge Round-1 Group One (PA) US$65,000 (Dirt) 1,600m
7.05pm Handicap (TB) $175,000 (Turf) 1,200m
7.40pm UAE 2000 Guineas Trial Conditions (TB) $100,000 (D) 1,600m
8.15pm Singspiel Stakes Group Two (TB) $250,000 (T) 1,800m
8.50pm Handicap (TB) $135,000 (T) 1,600m
9.25pm Al Maktoum Challenge Round-1 Group Two (TB) $350,000 (D) 1,600m
10pm Dubai Trophy Conditions (TB) $100,000 (T) 1,200m
10.35pm Handicap (TB) $135,000 (T) 1,600m
The National selections:
6.30pm AF Alwajel
7.05pm Ekhtiyaar
7.40pm First View
8.15pm Benbatl
8.50pm Zakouski
9.25pm: Kimbear
10pm: Chasing Dreams
10.35pm: Good Fortune
How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
What is cyberbullying?
Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.
Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.
Parents should watch out for behavioural changes in their children.
When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety
Zayed Sustainability Prize
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
