Apple owns the iPhone and launched the App Store in 2008.
Apple introduced the first iPhone in January 2007, combining a mobile phone, internet capabilities, and a touchscreen interface. The App Store followed on July 10, 2008, giving users a central marketplace for installing software on the iPhone and iPod touch.
The App Store helped create a large developer economy and made Apple’s mobile platform more useful over time. It also became an important part of Apple’s services business, alongside subscriptions, cloud storage, payments, and digital media.
Apple’s market capitalization is therefore supported by both hardware sales and recurring services revenue. The App Store is sometimes confused with Google Play, which serves Android devices. Google operates Google Play, while Apple controls the App Store ecosystem for its own platforms.