“Sanford C. Bernstein analyst Toni Sacconaghi estimates Apple’s 30% commission on apps that cost money may be generating $150 million a year, a number he expects will increase quickly,” Martin Peers reports for The Wall Street Journal.

“That is tiny compared with the iPhone’s hardware revenue, $2.8 billion in the six months to March. The more important value is intangible. By widening the variety of uses for the device, the apps make the iPhone more valuable to its owners,” Peers reports. “Moreover, the cost of creating apps is borne by outside developers, not Apple, notes former Alson Capital analyst Michael Bressler. Apple has some costs in operating the App Store.”

Peers reports, “And because Apple has such a lead, more than 50,000 apps versus 2,000 for Research In Motion’s BlackBerry, the app store helps the iPhone stand out from the crowd.”

Full article here.