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More evidence a bubble has formed in mobile apps, in spite of the huge success stories (I, II):...
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Friday, May 4, 2012, 5:46 PM ETMore evidence a bubble has formed in mobile apps, in spite of the huge success stories (I, II): a survey from consulting firm App Promo indicates 59% of mobile apps don't generate enough revenue to offset development costs, and 68% of developers earned less than $5K with their most successful app. The report comes a week after a study claiming iPhone app downloads fell sharply in March.
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Apps development economics has always been like lottery, gambling, stock trading, and college athletics, where most are losers and winners take all.
But that doesn't stop people from trying! Instagram is the latest example showing what can be achieved if you just try hard enough!