Consumers spend record $120 billion on 204 billion app downloads in 2019 alone

Consumers spend record $120 billion on 204 billion app downloads in 2019 alone

- There were 204 billion downloads of apps in the year 2019 as customers spent an estimated $120 billion during the same period

- Fresh reports coming in show that people now spend more time on apps, making them a big business venture

- Mobile-inclined companies have also been rated as more valuable compared to those without mobile as a focus

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In the year 2019, the app industry recorded 204 billion downloads as consumers spent an estimated $120 billion in this regard.

The details, shared by App Annie’s recently released annual report dubbed ‘State of Mobile’ also showed that people now spend 3 hours and 40 minutes on the average, using apps.

Per a report by techcrunch, this creates competition for the television industry as apps are now a big business venture and not merely an excuse to pass idle hours.

Records reveal 204 billion apps downloads as consumers spend $120 billion in 2019
Source: UGC

READ ALSO: Tesla ready to recall over 3000 Model X vehicles from China understands that in the year 2019, mobile-inclined companies were valued at $544 billion in total.

This is reportedly over six times higher than companies without a focus on mobile. There have however been some recorded challenges in the mobile industry.

The Massachusetts Institute of Technology (MIT), once examined a mobile voting app, Voats, and concluded that it was riddled with flaws.

The app was designed to help tally votes in selected states as part of a pilot project aimed at introducing mobile voting.

The flaws reportedly created the opportunity for hackers to manipulate votes, change ballots and even block them on the blindside of voters.

Hackers could also create a tainted paper trail that eventually created complications when it comes to auditing.

In other news, Ghana’s gold producer, AngloGold Ashanti, has left South Africa after selling its mines there for $297 million.

The mining firm reached an agreement with Harmony Gold Mining Company Limited to offset its remaining assets and liabilities in the country.

Harmony is expected to pay $200m in cash and $260/oz of gold from Mponeng and other underground assets included in the transaction based on production above 250,000oz/year. understands that payment would be made for six years beginning from 2021. AngloGold Ashanti explained to investors that it approved the sale because it intends to streamline its portfolio in line with a framework focused on capital allocation.

This would help it create a more focused business with enhanced operating and financial standards.

READ ALSO: Rwanda sets the ball rolling with the first made in Africa cellphones

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