Just how lucrative is the mobile app market? This lucrative:

Electronic Arts is boasting of amazing third quarter sales of its own iOS apps. Joystiq reports that COO John Schappert recently discussed just how well EA apps did during the holiday season. Schappert said, “The day after Christmas, the millions who were activating their new devices, EA held 14 of the top 25 paid apps for the iPhone and 15 of the top 25 paid apps for the iPad.”

Part of the reason EA did so well, other than offering titles iOS users were obviously willing to pay for, was that it dropped prices on most of its iOS apps in December, setting off a price war amongst developers on the App Store. EA’s timing was impeccable, however, because Apple froze the App Store charts on December 23, leaving many EA titles right near or at the top of the charts for the remainder of the holidays. Very smart indeed.

The net result? EA’s revenue from digital distribution (which includes App Store sales) was up $62 million last year. Now, a good chunk of that obviously came from the various mainline games that EA sells through various digital distribution services…but another good chunk of it also came from top-quality apps that go for $6.99 or less.

And there is an EA studio willing to work with Ultima fans who are able to port Ultima titles to iOS, remember…to the point of getting those products sold. Something to consider.