24/7 Wall Street has published a report claiming that the cost of iPhone piracy has been $450 million so far. In short: the report claims piracy rates of paid iPhone apps are around the 75% mark – three illegal downloads for every legitimate purchase – which based on estimates that 510 million of the three billion App Store downloads were paid apps, means 1.53 billion illegal downloads, which at an average price of $3 per download would mean $4.59 billion – but if only 10% of those pirates would have paid, means $450 million of lost revenues. At least they don’t assume every pirated download equals one lost sale. As the article points out, Apple has remained mute on any plans to try to combat this piracy.

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