The iPhone's Secret Sauce

It's all about the AppStore and the ever-growing number of new applications, right? This recent BusinessWeek article does a terrific job explaining how Apple's approach has completely turned the cell phone market on its head.

A few interesting tidbits/excerpts:

The average iPhone owner has downloaded at least 15 applications in the past six months.

Research firm Evans Data says 20% of wireless developers now create software for Apple, up from 8% six months ago.

TD Ameritrade hired an Argentine developer to crate its mobile software -- and paid nothing upfront. Instead, the developer gets a cut of commissions from trades using its program.

I love that last point the most, especially in the midst of such brutal economic conditions. It's nice to see you can develop an app without a lot of upfront investment; it's also great that both parties share the risk as well as the potential wealth.