"The 200 millionth app! We've never seen anything like this in our careers," said Apple CEO Steve Jobs.
The Apple App Store is available in 62 countries and has more than 5,500 apps available for purchase. Jobs characterised the rate of apps being submitted to Apple from developers as "incredible".
As with many of the products and services Apple designs and makes successful, competitors soon follow, trying to duplicate the success. As we've seen with products such as the iMac and iTunes, that's not always an easy task.
As expected when the Apple App Store launched, the release of cool applications has led to more iPhone sales.
While an incredible amount of applications have been sold, it hasn't been an easy trip for Apple's App Store. Developers have expressed their frustration with Apple's lack of communication in how long it will take to get apps posted to the store, among other things.
Some applications have been removed from the App Store without any explanation, raising some concerns about how Apple's vetting process. This has caused some frustration among users and further discontent in the developer community.
Apps are currently available for purchase in 19 categories, including Games, Navigation, and Music.
See also: Apple removes 'stabbing app' for iPhone