According to embodiments described in the specification, a method and apparatus for managing memory in a mobile electronic device are provided. The method comprises: receiving a request to install an application; receiving at least one indication of data intended to be maintained in a shared cache; determining, based on the at least one indication, whether data corresponding to the intended data exists in the shared cache; upon a negative determination, writing the intended data to the shared cache; and repeating the receiving at least one indication, the determining and the writing for at least one additional application.