Samsung is reportedly thinking of switching from Google Search to Bing
over the weekend, underscores the growing challenges Google’s $162-billion-a-year search engine business face from Bing – a minor player that has risen in prominence recently after theGoogle’s reaction to the threat was “panic” as the company earns an estimated $3 billion in annual revenue from the Samsung contract, the report said, citing internal messages.Another $20 billion is tied to a similar Apple contract that will be up for renewal this year, the report added.
Google has for decades dominated the search market with a share of over 80 per cent, but Wall Street fears the company could be falling behind Microsoft in a fast-moving AI race. Parent firm Alphabet lost $100 billion in value on Feb. 8 after its new chatbot, Bard, shared inaccurate information in a promotional video and a company event failed to dazzle.On Monday, the stock fell to $104.90 and erased nearly $50 billion from Alphabet’s market capitalization. Microsoft, meanwhile, outperformed the broader market with a rise of one per cent.
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