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Google's Payments To Apple Reached $20 Billion in 2022, Antitrust Court Documents Show
Thursday May 2, 2024. 05:20 PM , from Slashdot
Alphabet paid Apple $20 billion in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department's antitrust lawsuit against Google. From a report: The deal between the two tech giants is at the heart of the landmark case, in which antitrust enforcers allege Google has illegally monopolized the market for online search and related advertising. The Justice Department and Google will offer closing arguments in the case Thursday and Friday, with a decision expected later this year.
Google and Apple had hoped to shield the payment amount from public disclosure. At the trial last fall, Apple executives testified that Google paid 'billions,' without specifying a number. A Google witness later accidentally disclosed that Google pays 36% of the revenue it earns from search ads to Apple. Court documents filed late Tuesday ahead of the closing arguments mark the first public confirmation of the figures by Apple's senior vice president of services, Eddy Cue. Such numbers aren't disclosed by either company in their securities filings. The documents also revealed the importance of the payments to Apple's bottom line. For instance, in 2020, Google's payments to Apple constituted 17.5% of the iPhone maker's operating income. Read more of this story at Slashdot.
https://apple.slashdot.org/story/24/05/02/1320207/googles-payments-to-apple-reached-20-billion-in-20...
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