How to Lose £1.6m an Hour, the Apple Way

By Gerald Lynch on at

Did you struggle to download an iOS time waster yesterday from Apple's App Store? You weren't alone: the Cupertino company's iTunes and App Store both suffered an 11-hour outage yesterday, leaving millions of people around the globe twiddling their thumbs, looking at their ageing app collections in disgust.

If it was bad for you, spare a thought for Apple's accountants: also affecting the company's Mac App Store and iBooks Store, IBTimes calculates that the outage cost Apple somewhere in the region of £1.6 million for each hour that the stores were offline. Knocked out from 9am GMT on Wednesday morning, that leaves Apple with an estimated loss of £17.6 million. Ouch.

Or at least, ouch for the average company -- with a war chest brimming with around £120 BILLION, it's pocket money to Tim Cook and his team. However, for developers who rely on the store as their main (or only) channel of income, it's going to lead to tightened purse strings at the end of the month.

Apple offered the following statement in response to the outage:

We apologise to our customers experiencing problems with iTunes and other services this morning. The cause was an internal DNS [domain name system] error at Apple. We're working to make all of the services available to customers as soon as possible, and we thank everyone for their patience.

Oh well. Sell a couple of those £8,000 Apple Watch Edition wristables and it'll be like nothing ever happened. [IBTimes]