What Google CEO Sundar Pichai has to say on the billions of dollars that Google pays to Apple annually – Times of India
Google CEO Sundar Pichai has said that Google’s deal with Apple for being the default search engine in the Safari web browser on various Apple devices is a “standard” one and the company competed with others for it, as per a report by Bloomberg. He said this at the Code Conference in Los Angeles on Tuesday in response to a question by the audience who asked him how much Google paid to Apple to be the default search engine on Safari web browser.
He also added that Google would continue with more acquisitions if they make sense for the company. As an example, he referred to the tech giant’s acquisition of Fitbit, saying that the deal would benefit the upcoming Google Pixel Watch with the necessary technology.
How much money does Google give Apple?
Lots and lots of money. So much so that a New York Times report stated that is perhaps the single “single biggest payment that Google makes to anyone.” Further, it roughly accounts for 14 to 21 per cent of Apple’s annual profits. The deal wasn’t a secret but the financials came to light when US regulators starting scrutinising the deal. In 2014, it was revealed that Google paid $1 billion to Apple. It has increased handsomely over the years. In 2021, analysts at Bernstein predicted Google’s annual payments to Apple to touch $15 billion. In 2022, Google’s payments to Apple are supposed to hit anywhere between $18 billion to $20 billion.
Google is “pro-competitive”, says the CEO
Pichai defended his company against the allegations that it was anti-competitive. The Google CEO said that the search engine giant is “pro-competitive” and has Apple and Google as rivals in the digital advertising business while TikTok challenges it in the video space. He said that competition in tech is “hyper-intensive” and the success of TikTok “shows there is competition in space and “how vibrant this market is” compared to previous years. Pichai added that Google’s own YouTube Shorts, which is seen as Google’s answer to TikTok, is off to a “great start”.
What of the interest in Pinterest?
While the Google CEO said that the company did not consider buying Twitter earlier this year, he declined to comment on Google’s interest in acquiring Pinterest Inc.
He also added that Google would continue with more acquisitions if they make sense for the company. As an example, he referred to the tech giant’s acquisition of Fitbit, saying that the deal would benefit the upcoming Google Pixel Watch with the necessary technology.
How much money does Google give Apple?
Lots and lots of money. So much so that a New York Times report stated that is perhaps the single “single biggest payment that Google makes to anyone.” Further, it roughly accounts for 14 to 21 per cent of Apple’s annual profits. The deal wasn’t a secret but the financials came to light when US regulators starting scrutinising the deal. In 2014, it was revealed that Google paid $1 billion to Apple. It has increased handsomely over the years. In 2021, analysts at Bernstein predicted Google’s annual payments to Apple to touch $15 billion. In 2022, Google’s payments to Apple are supposed to hit anywhere between $18 billion to $20 billion.
Google is “pro-competitive”, says the CEO
Pichai defended his company against the allegations that it was anti-competitive. The Google CEO said that the search engine giant is “pro-competitive” and has Apple and Google as rivals in the digital advertising business while TikTok challenges it in the video space. He said that competition in tech is “hyper-intensive” and the success of TikTok “shows there is competition in space and “how vibrant this market is” compared to previous years. Pichai added that Google’s own YouTube Shorts, which is seen as Google’s answer to TikTok, is off to a “great start”.
What of the interest in Pinterest?
While the Google CEO said that the company did not consider buying Twitter earlier this year, he declined to comment on Google’s interest in acquiring Pinterest Inc.
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