iPhone App Store Downloads Worth Less Than One Billion

Ever since investment banking analyst Gene Munster predicted that Apple's iPhone App Store could become a $1.2 billion business by 2009, the Apple universe has been wondering if and when that revenue number would be reached. Information Week reports.

Not for a long time -- a very long time, according to venture capitalist Jeremy Liew of Lightspeed Venture Partners. In a recent analysis, Liew came to the conclusion that Apple so far has made less than $45 million from the more than 1 billion downloads that have been made by iPhone users.

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emily | 3:50 PM | Cell Phone Apps Random Stats |
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