The 3G iPhone had its debut last July 11, 2008. And along with the debut of the second-generation iPhone is the launching of the iTunes App Store at the same time. This is where all sorts of applications for the iPhone as well as iPod Touch can be downloaded. There were actually more than 500 applications included when the iTunes App Store was launched. At least twenty-four percent of the 552 available applications do not require any fee. This means that the price point is free. Seventy-six percent of the applications included during the launching of the iTunes App Store ranges from 99 cents to $9.99 each. Some even go for as much as $69.99.

Recently, Greg Yardley from Pinch Media said that there are now lesser free applications that can be downloaded from the iTunes App Store. Although the number of applications increased from 552 to 798, the free iPhones now make up only 20 percent of the applications, down from 24 percent when the App Store was launched. This simply means that there are 161 applications that can be downloaded for free.

As of the moment, the most popular price point in iTunes App Store is 99 cents (188 applications), followed by $9.99 (96 applications).