As you can imagine the Apple iTunes App Store is big business for the iPhone and Apple every since it opened in 08, but just how much revenue does Apple pull in from the App Store?

Well according to a report on gigaom, which cites analysts at AdMob, the Apple iTunes App Store is currently pulling in a staggering £123 million per month, which is almost some £1.5 billion per year.

Just so you can put those figures into some kind of perspective, iPhone games, applications and such drag into Apple’s vaults a mind boggling £ 2850 every second, and over 40% of iPhone carrying people spend their cash on iPhone apps.