Google to Pay Apple $3 Billion to Remain Default iOS Device Search Engine: Report

said braka 7:53 AM
Google will pay Apple nearly $3 billion (roughly

Rs. 19,276 crores) this year to remain as the default search engine on iOS devices, US-based research and brokerage firm Bernstein has said.

According to a note to investors on Monday, Google has increased the amount - from $1 billion three years ago to $3 billion this year - and Google's licensing fees make up a large bulk of Apple's services business.

"Court documents indicate that Google paid Apple $1B in 2014, and we estimate that total Google payments to Apple in FY 17 may approach $3 billion," CNBC quoted analyst A.M. Sacconaghi Jr. as saying.