Alphabet’s (GOOGL - Free Report) Google has renewed its license payment contract with Samsung to ensure that the South Korean tech company preinstalls Google’s search engine on its smartphones.
Samsung receives fees from Google depending on the company’s advertisement earnings from the preinstalled app. According to JoongAng Ilbo, a daily newspaper in South Korea, Samsung could receive fees up to $3.5 billion.
This follows news on Monday that Google will pay Apple (AAPL - Free Report) $3 billion this year to remain the default search engine on Apple devices. This payment has increased threefold from the $1 billion Google paid Apple in 2014.
Samsung’s licensing revenue has also increased in recent years thanks to its strong smartphone sales.
However, much like its relationship with Apple, Google’s large payment to Samsung will most likely pay off in the long run. Remaining the default search engine on both Apple and Samsung smart phones, two of the most popular brands, contributes significantly to Google’s mobile search revenue.
Related talks are currently underway and are led by David Eun, president of Samsung Next, Samsung’s startup in Silicon Valley, who previously served as vice president of content partnership at Google.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Alphabet’s (GOOGL - Free Report) Google has renewed its license payment contract with Samsung to ensure that the South Korean tech company preinstalls Google’s search engine on its smartphones.
Samsung receives fees from Google depending on the company’s advertisement earnings from the preinstalled app. According to JoongAng Ilbo, a daily newspaper in South Korea, Samsung could receive fees up to $3.5 billion.
This follows news on Monday that Google will pay Apple (AAPL - Free Report) $3 billion this year to remain the default search engine on Apple devices. This payment has increased threefold from the $1 billion Google paid Apple in 2014.
Samsung’s licensing revenue has also increased in recent years thanks to its strong smartphone sales.
However, much like its relationship with Apple, Google’s large payment to Samsung will most likely pay off in the long run. Remaining the default search engine on both Apple and Samsung smart phones, two of the most popular brands, contributes significantly to Google’s mobile search revenue.
Related talks are currently underway and are led by David Eun, president of Samsung Next, Samsung’s startup in Silicon Valley, who previously served as vice president of content partnership at Google.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaries," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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