Jul 25, 2016 11:50 AM EDT By Ron S., UniversityHerald Reporter

"Pokémon Go" sets new App Store record for the most app downloads for its opening week, although the app may have reached its peak as numbers reveal that it is already in a decline.

Apple has yet to reveal the specific number of downloads of "Pokémon Go" on its opening week, but the California-based company confirmed that the game had already broken the existing record, Polygon reported.

In addition, it was reported that Nintendo declined to give any specifics as well, and has pointed to The Pokémon Company for such information, though the copyright-holders have yet to release the specific numbers reached.

"Pokémon Go" had just been launched in North America earlier this month, and quickly became top of the free games category for both iTunes and Google play, as well as ranking as top-grossing app for both mobile app stores.

Analysts have estimated that the popular VR app is generating about $1 million to $2.5 million in revenue, which is expected to grow significantly in the coming months as the app has recently launched in more countries.

Two weeks in since its launch early this month, it has been revealed that the popular app has surpassed previous leaders, Supercell's "Clash Royale," for the fastest mobile game to top the charts under the highest grossing category, Trusted Reviews reported.

Although Nintendo has minimal participation in the app's development, as Niantic Labs have developed the majority of the game's design and mechanics, the Japanese company's stock and market value have since doubled as the mobile game grabbed the headlines.

Along with the apparent popularity among mobile users, it has become apparent that the popular mobile game has reached its peak, as Apple revealed that the app downloads are already starting to decline, according to Venture Beat.

While app downloads from North America are starting to lessen in number daily, it still remains to be seen how far the numbers will go for the mobile game as it has just launched in Japan this week, and have expanded to several countries for the past couple of weeks.

Industry analysts estimate that the app's annual revenue might just hit a billion dollars by the end of this year.

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