Cydia App Store Launches on iPhone

Jay Freeman has just launched his new Cydia Store for the iPhone, effectively letting users buy jailbroken iPhone apps from the service. The Cydia Store is completely separate from the Apple App Store and requires a jailbroken iPhone. It is possible the service could spike in usage, even posing a marginal threat to the real app store assuming wide adoption and users can get some of the same cracked apps.  

Another unauthorized iPhone app store called Rock Your Phone also plans to sell unauthorized applications.
Apple currently charges a 30% commission on the sale price of each application sold. Some estimates say the iPhone app store will generate up to $800 million in revenue by the end of 2009.

Jay Freeman, the founder of Cydia Store, told the WSJ he does not intend to charge developers more than what Apple already does. Freeman also says his software has been installed on 1.7 million iPhones already.

In related news, new details have emerged from the Windows Mobile Marketplace. Developers will have to pay a $99 annual fee, which includes up to five application submissions, each additional submission will cost another $99. Developers registered in the Microsoft DreamSpark program are waived the fee. The Windows Mobile Marketplace will launch in spring 2009 in 29 countries. We probably won’t be seeing a Cydia type store for WinMo as almost any app can already be cracked on the platform.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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