Selling an iPhone App on the iTunes App Store

Selling an iPhone App on the iTunes App Store:
Consumers can download applications on to any Apple device. These applications published through Apple and developed with the Mac or iOS SDK, may be browsed and downloaded from the iTunes/App World/The App store. While most of the applications are on sale, many are available for free. Whether they carry a price tag or not depends on the developer company and the kind of application on offer. As on January 2011, the App Store reached a milestone with the 10 billionth applications download.

Is there a fee to post an app on iTunes/App World/The App Store?
There is no specific fee to post an app on any of Apple’s outlets. However, the first stage in submitting an app to the ITunes store or other app outlet is to sign up as a registered IPhone developer. The charge for the license fee is $99 which is an annual fee valid for a period of a year. During its period of validity a developer can submit any number of apps for review for which there is no separate or additional fee. At the time of registration a prospective developer will be asked to provide banking information. This is to enable payment to the developer for earnings on apps, in case the developer plans to charge for them.
What percentage does iTunes take for the sale of an app?
On average, apps on sale are priced at between $3.50 and $4.00. Apple shares its revenue on a 70:30 basis where the application seller receives 70% with 30% going to the store. According to reliable data, on average the revenue from an app is estimated at around $700.
How do free downloads work?
Why developers offer free downloads is an intriguing question. Free downloads are used by mobile app developers as teasers to stimulate interest in consumers in other apps which carry a price tag. Free mobile apps are often limited or abbreviated to inspire a consumer to go for the full version which is available at a fee. An interesting and practical app is a good way for a company to generate interest in its other apps. By offering a fully functioning free app a developer company can collect email addresses for marketing purposes. Free apps are a useful marketing tool for a new mobile app development company to generate interest in itself and its apps developments.
Is posting a free app on iTunes/App World/The App Store really free?
The answer is yes and no. There is no charge to post an app, but the app developer must by a license fee every year at a cost of $99.
How long does it take for an app to be accepted to the iTunes app store?
Posting an app to the ITunes app store requires patience. First a developer has to be accepted in the development program, a process that could take up to six months because of the waiting list. However, during the waiting period a developer can download the iPhone SDK to start developing. The developer can submit an app immediately after acceptance by Apple. No one really knows how long it takes for an app to be accepted. Most submissions take between two weeks and two months. If an update is required the response is much quicker. An app that has been rejected can be resubmitted when the issues pointed out have been addressed. Apple has clearly spelled out its guidelines for what is acceptable. There is no guarantee that an app will be published when offered, but for the most part Apple has displayed consistency in abiding by its guidelines.