Since Apple opened its Apps Store on iTunes to the outside developers in July 2008, more than 140,000 different iPhone applications have appeared. Whether it’s about buying things online or identifying bird songs, programs are needed so that one can do the work from his or her handset.

While most of the applications are free, many of them cost more than a few dollars to download. According to data from AdMob, which is an advertising company, the app market is worth nearly two and a half billion dollars a year. Other smart phone brands are developing their own platforms for apps and are leaving no stone unturned to erode Apple’s early lead.

Dave Castelnuovo, the co-creator of Pocket God, a popular game for iPhone, is a San Francisco based app developer.

A large number of small scale entrepreneurs have been inspired by the success of Pocket God and many more like it. Many of them want to opt for developing software for smart phones. But in a cut throat competition, it becomes really hard to create a top-seller.

David Yoffie, a technology expert at Harvard Business School says, “There's enormous innovation and a constant stream of new creative applications are coming online. So forget about current applications, what matters are the creative things we may see in future”.