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The iPhone App Market That Apple Doesn't Sanction

This story was written by Dianne See Morrison.
Apple's App Store is facing some new competition, and not just from the numerous app stores springing up from its handset competitors Nokia (NYSE: NOK), RIM (NSDQ: RIMM) and Palm (NSDQ: PALM). A number of alternative stores are cropping up to sell unauthorized applications for the iPhone, which the reports could threaten Apple's sales. On Friday, a developer who has already created some popular iPhone software is launching Cydia Store, while a store called Rock Your Phone is rolling out shortly. Another start-up is planning an adult-themed content store for the iPhone. All are eyeing up the runaway sales at the App Store; brokerage firm Piper Jaffray estimates it brought in $150 million in revenues last year, and sales are expected to mushroom to $800 million this year.

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By Dianne See Morrison