Apple may be developing a competitor to Google Search
The rumor: After years of speculation, Apple may actually be working on a competitor to Google Search, according to the Financial Times (FT).
- FT suggests Apple’s interest in building an in-house competitor to Google Search may have been spurred by recent antitrust investigations
- The Department of Justice recently estimated that Google pays Apple $8-12 billion dollars per year to retain Google Search as the default across Apple products
Our take: Logically, it makes sense that Apple would be exploring the idea of their own search engine. But financially, leaving $8 billion dollars on the table each year? No way.