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Google may be paying Apple $1 billion a year to be the default search engine in iOS

Google (GOOG) could be paying Apple (AAPL) as much as $1 billion a year for the right to the be default search engine on iPhones, iPads and the iPod touch. Scott Devitt of Morgan Stanley praised Google in a recent note to investors, Business Insider reported. The analyst said, “the next Google is Google,” noting that the company is continuing to prove itself in an ever-changing market. He believes that Google’s search business has more room to grow in expanding markets and subsidiaries such as YouTube could generate as much as $20 billion by 2020. Devitt estimated within the note

Quoted from Google may be paying Apple $1 billion a year to be the default search engine in iOS on Gadgets News Headlines – Yahoo! News

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