Google's Android Marketplace earns just a fraction of Apple's App Store, a Wall Street analyst said Monday.
The Android Market has brought home just 7 percent of the gross revenues at Apple's App Store since its inception, Apple Insider reported, citing Piper Jaffray analyst Gene Munster.
"While Google has closed the gap in terms of app dollars spent over the last year and we continue to believe Android will grow smartphone share faster than Apple, we believe Apple is likely to maintain 70%+ share of mobile app dollars spent over the next 3-4 years," the report quoted Munster as writing in a note to investors.
The analyst reportedly estimates Android Market has collected $330 million to date while Apple has generated $4.9 billion in gross sales through the September quarter. One startling stat: Less than 2 percent (1.3 percent) of apps on Android Market are paid, Apple Insider reported, citing Munster.
