The Apple Inc. (NASDAQ:AAPL) App Store has passed 50 billion lifetime downloads according to the company’s web site. The App Store launched less than five years ago, and 50 billion downloads represents a phenomenal level of success as Apple Inc. (NASDAQ:AAPL) continues to revolutionize the way we use computers every day.

apple app store

Apple Inc. (NASDAQ:AAPL) was not the first company to think about applications differently, nor was it the first to offer an app store model. It was, however, the company that brought that model to the wider market, and paved the way for how we use our mobile devices, Apple Inc. (NASDAQ:AAPL) or otherwise, every single day.

Apple Inc. (AAPL) App Store Performance

The app store was launched by Apple Inc. (NASDAQ:AAPL) on July 10 2008. Despite its existence for almost five years, about one fifth of all downloads from the App store have been performed in the first few months of 2013, a remarkable achievement. Apple announces it had reached the 25 billion download mark in January 2012, and the 10 billion mark in January 2011.

Not only is the magnitude of app store downloads increasing, it is also accelerating. The metrics are impressive, even by the company’s standards.

Despite perceived problems with Apple Inc. (NASDAQ:AAPL) offerings, the firm has secured an excellent stream of revenue from its application store. Back at its earnings report release for the first three months of the year, Apple Inc. (NASDAQ:AAPL) revealed that developers had made about $9 billion by developing for the store, which means that Apple itself has made around $3.9 billion from the store, not a huge chunk of it revenue, but a remarkable achievement.

With the rate of acceleration in growth at the App Store it feels like Apple Inc. (NASDAQ:AAPL) is celebrating a new milestone like this one every three weeks. The company is still growing its market share, and though iPhone sales might be slowing, the firm’s iPad is still a growing market.

Apple Inc. (NASDAQ:AAPL) will give away a $10,000 app store gift card to the lucky downloader who nabbed the company’s 50 billionth app, and the firm will also give $500 cards to 50 others who came close to the stroke of luck.

So far in 2013, shares in Apple Inc. (NASDAQ:AAPL) have lost more than 19 percent of their value on fears the company may not be able to compete as strongly in the future, and poor earnings results in the last two reported quarters. On Wednesday’s market, shares in the company fell 3.38 percent to $428.85.