Los Angeles
– Apple’s (NASD:  AAPL) App Store has contributed an estimated $189 million in total gross
profits since it was launched in 2008, according to a report from Piper Jaffray
analyst Gene Munster. The $189 million figure would represent just 1% of Apple’s
total gross profit during the same period.

The estimate was calculated based on
Apple CEO Steve Jobs’ recent statements that the store has served over 5
billion apps, and paid out $1 billion to developers.

By comparison, the iTunes
Store — which includes the App Store but also sells music and video — has
generated $3.6 billion in revenue, 12% of which can be attributed to the App


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