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Innovation

The apps business has lots of losers

Many continue to seek their fortune in the apps industry. Like Vegas, there are lots of losers amid some big winners.
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Written by Kirsten Korosec on

The lure of creating a killer app that becomes wildly popular--and generates lots of money in the process--has hooked the imaginations of many aspiring developers.

The mobile apps industry has been a boon for lots of folks. But underneath all of the success stories you hear about, are piles of failures, according to a WSJ article that explores the odds of developing a successful app. According to the WSJ:

The odds of striking gold in the apps business are quite long. While there are more than 800,000 mobile apps available in Apple Inc.'s App Store, only 80 of them generated more than $1 million in revenue during the fourth quarter, according to research firm Distimo.

Ouch. And those odds are getting longer for small, independent developers who are putting their apps in a pool largely dominated by large companies like Electronic Arts Inc., Walt Disney Co and Rovio Entertainment.

Illustration: Kirsten Korosec

This post was originally published on Smartplanet.com

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