Google paid Apple $1 billion
Google paid Apple $1 billion in 2014 to keep its search function on iOS devices,Bloomberg reports, the result of an agreement the two companies have that gives Apple a percentage of the revenue Google earns through iPhones and iPads. Bloombergcites a court transcript from the ongoing Oracle case against Google the same case that yesterday revealed how much money Google makes from Android — in which Oracle attorney Annette Hearst disclosed the figure during a hearing onJanuary 14th.
Google witness in the case who said that “at one point, the revenue share was 34 percent” between Apple and Google. After that figure was revealed, both companies attempted to hide it, Bloomberg says.
Apple later joined the filing, in which Google said that “the specific financial terms of Google’s agreement with Apple are highly sensitive to both Google and Apple,” and that both companies treat the details as “highly confidential.”
Google pays Apple to remain the default search engine on iOS. Morgan Stanley and Macquarie analysts have quoted the same $1 billion figure in the past, in reports released in both 2012 and 2013. If anything, it’s more of a surprise that Apple’s rates haven’t significantly changed over the years as iPhones have increased in sales, rising from the $1 billion indicated four years ago.
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