Samsung’s move to Bing results in Google losing billions – Is this … – SAMAA English
Google, which is owned by Alphabet, experienced a significant loss of $50 billion in market capitalization in just one day due to its reliance on Samsung.
According to a report, Alphabet’s shares dropped by as much as 4% on Monday following news that Samsung is considering switching its default search engine to Microsoft’s Bing on Galaxy devices.
This event has had a considerable impact on Google’s search engine dominance and its internet search empire, which generated $162 billion in annual income last year.
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Alphabet’s shares plummeted to $104.90, resulting in a loss of $50 billion in market capitalization, which is a significant blow for Google after Samsung’s report surfaced.
In contrast, Microsoft’s stock enjoyed a sharp rise of 1%. This speaks volumes about the overall situation.
Google pays billions of dollars to phone manufacturers to maintain its position as the leader in the internet search industry,…
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source: https://news.oneseocompany.com/2023/04/18/samsungs-move-to-bing-results-in-google-losing-billions-is-this-samaa-english_2023041843703.html
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