App store launching with 500 iPhone applications, only 25% are free…

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Steve Jobs has told USA Today that the Apple App Store for the iPhone and iPod Touch will launch with "more than 500" applications on the night it becomes available (Tomorrow). Out of the 500 applications, 25% will be free – making that roughly 125 applications that will be free.

Out of those who won’t be for free, 90% of those will be below $10 USD. As well, he also said that a third of applications at the launch will be games. All developers will receive 70% of the sales, with Steve Jobs arguing that it is common in the video game industry.

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