"The 200 millionth app! We've never seen anything like this in our careers," said Apple CEO Steve Jobs during the call.

The App Store is available in 62 countries and has over 5,500 apps available for purchase. Jobs characterized the rate of apps being submitted to Apple from developers as "incredible."

As with many of the products and services Apple designs and makes successful, competitors soon follow trying to duplicate the success. As we've seen with products like the iMac and iTunes, that's not always an easy task.

As expected when the App Store launched, the release of cool applications has led to more iPhone sales.

While an incredible amount of applications have been sold, it hasn't been an easy trip for the App Store. with Apple's lack of communication in how long it will take to get apps posted to the store, among other things.