Today (22 October 2008 at 9:00 AM), Google announced the launch of “Android Market” a global location to buy, sell, download Android based applications.

Just like iPhone Application store, Android Market place is for downloading, buying and selling Android powered application. Thought currently around the globe there is only one Android powered phone G1 but there are reports of more Android Powered phones coming soon, motorolla is expected to launch.

Apart from that, Android Market will allow users to easily download applications for their Android-powered cell phone and on the other hand allow developers to submit there application for download or sale. The store will display applications on the bases of its of its rating by user, statistics & usage.Android Markeplace will have both free and paid apps.

For developers to submit there application a $25 application fee has to paid to Google after which they can simply submit there applications without any further approval or validation of there individual application. According to there blog post starting eary Q1, developers will also be able to distribute paid applications out of which 70% revenue of each purchase will go to the developers and 30% into Google for settlement of fees and other expenditures.

So far over 50 applications are up at the marketplace, many notable application like iSkoot for skype, Shazam to place your phone near audible music are up there. So lets see what else comes along .