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Google Play profitability grows at an astounding rate

App Annie, an app analytics firm, reports that Google Play grows at an astounding rate. Right now, Apple’s App Store is four times more profitable than the Android app store. However, Google’s online store has grown by 311% since January and 17.9% last month. By comparison, Apple’s online store grew 12.9% since January and slightly fell by 0.7% last month.

When it comes to the volume of global free apps downloaded, Apple is ahead of Google by 10%. However, in the last five months, Google Play enjoyed a growth of 48% in the free app market. Apple only grew by 3.3%.

At a press release, App Annie CEO, Bertrand Schmitt, said about the report, “The gap between global revenue on iOS and Google Play is still there.”

He added, “But the gap is shrinking every month, creating more opportunities for publishers to generate significant revenue growth in several countries on Google Play.”

Google’s app success seems to have boomed when the Android Market was renamed to Google Play in March. Ever since, the amount of apps downloaded have been growing at an astounding rate. In addition to apps, the online store now sells eBooks, films, music, and games. It also added partners and additional features.

Back in September, Google Play reached a milestone of 25 billion downloads. In October, it offered a whopping 700,000 apps just like Apple.

According to App Annie, “Although, in the most recent month, growth has slowed considerably, and the question remains, can Google Play keep growing at a lightning pace?”

Right now, the iOS-powered iPad dominates the tablet market, but tablet powered by Android will either match or overtake the iPad in the middle of 2013. This is according to an analyst.

Will Google Play surpass the Apple App Store? Let us know what you think through a comment below.