Technology Apple's App Store sales hit a record $300 million on New Year's Day

02:11  05 january  2018
02:11  05 january  2018 Source:   cnbc.com

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Apple set a new record for App Store sales on New Year ' s Day , thanks to a 25 percent increase from the same day a year earlier. Consumers spent $ 300 million on apps on Jan. 1, the most for a single day since the App Store launched in 2008.

Apple on Thursday announced that the App Store saw a record -breaking $ 300 million in purchases on New Year ’ s Day .

Tim Cook, chief executive officer of Apple Inc. © Provided by CNBC Tim Cook, chief executive officer of Apple Inc.

Apple set a new record for App Store sales on New Year's Day, thanks to a 25 percent increase from the same day a year earlier.

Consumers spent $300 million on apps on Jan. 1, the most for a single day since the App Store launched in 2008. It marked the end to a booming gift-giving season, with $890 million spent on apps between Christmas and New Year's Day, Apple said on Thursday.

Those numbers are sure to excite investors who are betting that Apple will expand its software business as it becomes harder to squeeze growth out of a saturated smartphone market.

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Together, iPhone and iPad users spent $ 300 million in the App Store on the first day of 2018 alone, Apple announced Thursday. It' s also the third year in a row Apple has bragged about New Year ' s Day sales records .

Today, Apple announced that the App Store broke a New Year ’ s Day record , with $ 300 million in total purchases made in the digital storefront on that day .

Apple redesigned the App Store over the past year and has made other changes, including adding search advertising, improving developer tools and introducing new ways for third-party apps to make money.

It appears to be working. In 2017, iOS developers earned $26.5 billion, a 30 percent increase over the prior year, Apple said. For smaller developers, these efforts could provide more incentives to build products, especially on emerging platforms like ARKit and the Apple Watch.

Some Chinese Apple users warned by firm on dodging new data law .
China introduced a new cyber security law on June 1 that imposes tougher controls over data than in Europe and the United States, including mandating that companies store all data within China and pass security reviews. Apple announced last year that it will migrate all user data from Chinese iCloud accounts to local servers run by Guizhou-Cloud Big Data Industry Co Ltd, which is part of a state-backed infrastructure project overseen by local Communist Party officials.The move is scheduled to happen on Feb. 28, and Apple this week notified users of the shift via emails linked to Chinese iCloud accounts.

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