Bringing the big titles to the iPhone brought with it the attention of developers and consumers from every platform, not just the Mac. That has helped the iPhone and the App Store grow in a relatively short period of time.

Apple recognizes the importance of the App Store, crediting it alongside the iPhone. During Apple's on Wednesday, COO Tim Cook said, "the power of device and ecosystem is enormous."

Apple also said that software remains the key ingredient for a great mobile experience, again praising the App Store and the iPhone OS.

"It's pretty astounding to consider that there have been a billion downloads from the app store, but in a sense it's not at all surprising. Apple has crafted a complete and thriving ecosystem: a brilliant device, a sane and compelling distribution and revenue opportunity for developers, and of course a rabid demand from consumers for content and applications of every ilk," said John Poisson, CEO of Tiny Pictures, creators of the Radar app. "Radar is doing very well in the app store and iPhone became our fastest-growing platform overnight. We look forward to being a part of the next billion downloads."