Alphabet's Google Slashes App Store Fees

Following a similar move made recently by rival Apple (NASDAQ: AAPL), core Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) has made deep cuts to the fees it charges developers of apps published on its Google Play store. It will charge developers only 15% of an app's price and its in-app purchases, exactly half of the 30% it previously imposed.

There is a catch, however -- the reduction only applies to the first $1 million of an app's sales; the fee shifts to that original 30% once sales cross the $1 million threshold.

Image source: Getty Images.

Source Fool.com