Apple launched the App Store

Apple's launch of the App Store marked a pivotal moment in the mobile application landscape, providing a platform for third-party developers to distribute applications for the iPhone and iPod Touch. This initiative not only expanded the functionality of Apple's devices but also created a new revenue stream for developers and Apple alike. Within a month of its launch, the App Store achieved remarkable success, selling 60 million applications and generating an average daily revenue of $1 million. This rapid uptake demonstrated the demand for mobile applications and the potential for a thriving app economy. The App Store's success contributed significantly to Apple's position in the mobile market, as by October of the same year, the company became the third-largest mobile handset supplier globally, largely due to the popularity of the iPhone. The App Store not only transformed how users interacted with their devices but also set a precedent for app distribution models across the industry, influencing competitors and shaping the future of mobile technology.