Other Ocean, the developers of the iPhone version of Super Monkey Ball [App Store], have announced that they have created a specialized iPhone division to dedicate resources for future iPhone development:
"Our experience working with Apple's SDK has been extremely positive and the iPhone, with its accelerometer opens up exciting opportunities for game development on this platform," explained Gordon Wood, Other Ocean's technical directory and senior programmer. "The iPhone platform has generated a lot of attention and people are excited for the opportunities that lie ahead."
With Super Monkey Ball being the most popular paid application on the iTunes App Store, it's no wonder the company is going to dedicate more resources to it. Early numbers from the App Store showed that Super Monkey Ball earned over $27,000 in the first few hours of the App Store opening. This was before the iPhone 3G came out or the 2.0 Firmware was officially released.
Since then, Medialets as performed some fuzzy math to estimate Other Ocean's revenues to be in the millions of dollars since launch. Based on the early numbers quoted above and the persistent #1 spot, despite the fuzzy math, I think they are in the right ballpark.
Granted, Super Monkey Ball received more press than any other application in the App Store, it still shows the massive earnings potential with the App Store.
Update: An article with some comments from Other Ocean about their iPhone success.