Being the default search engine is a big deal for Google. The company spends billions of dollars to be the default search engine on devices like the iPhone. In 2017 Google reportedly paid Samsung $3.5 billion in fees to be the default search engine on Samsung mobile phones. It’s almost to the point of being an anti-trust issue.
Anyway that may change soon. In a case of the headline is most of the story, here’s Markets Insider.
Alphabet loses $55 billion in market value after Samsung reportedly considers replacing Google with Bing in its phones
Alphabet stock slid as much as 4% on Monday, erasing about $55 billion in market value after a report from The New York Times suggested that competition is heating up in the mobile search market.