Alphabet CEO confirms Google’s payments to rival Apple of over … – Proactive Investors UK
The chief executive of Google Inc’s owner has confirmed it makes over US$10 billion in annual payments to Apple Inc (NASDAQ:AAPL) to secure its place as a preferred search engine.
Sundar Pichai, Chief Executive Officer of Alphabet Inc (NASDAQ:GOOG), confirmed in court that Google pays Apple more than a third of web browser Safari’s search revenue under the terms of a default search agreement, according to reports.
Google’s preferred search engine payments account for 36% of Safari’s search revenue, Pichai said this week during a hearing for a case brought by Fortnite maker Epic Games.
The US Justice Department is separately pursuing Google as part of an antitrust suit that is examining the relevance of these payments to market competition.
Pichai confirmed details of the size of Google’s payments to Apple given by an expert witness in testimony for a lawsuit filed by Epic Games.
The attorney for Epic Games suggested that Google’s payments to Apple could amount to as much as US$18…
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source: https://news.oneseocompany.com/2023/11/15/alphabet-ceo-confirms-googles-payments-to-rival-apple-of-over-proactive-investors-uk_2023111552628.html
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