China’s Apple App Store has become the top revenue generating Apple Store in the world outranking the United States to the second position. According to a recent report by App Annie Apple China generated revenue of around $1.7 billion (roughly Rs. 11,376 Crores) in the third quarter of 2016.
Seems like China is doing well in holding some serious records, this time it’s not for being the highly populated nation but for being the highest revenue generating nation for Apple Inc’s App Store. According to a report by App Annie, China has successfully outranked United States this week by generating around $1.7 billion worth of revenue (roughly Rs. 11,376 Crores) in the third quarter of 2016.
This calculates to up to 15 percent more of what United States’ Apple App Store generated. Now this is not something real easy to outrank US in this field as since 2010 no other nation was as near as US’s revenue generation for the Apple App Store but this year finally China came up and outranked US with 15 percent more of the total revenue.
According to the report, this all was possible just because of the increase in Chinese people’s spending over the app store which has increased by 5 times in two just years.
And if all went like this then China will give a humongous boom to Apple’s App Store revenue by 2020, the report adds.
The report states the various categories in which all of the major revenue increment was found. The report reads as, “While revenue from Games accounts for the majority of revenue generated in China, other prominent categories like Entertainment and Social Networking are making strides and have more than tripled in the past year, Video streaming apps in China have had a major impact on the Entertainment category as a whole, and include further integrations into traditional cable spaces with investments in smart TV and original content.”