Google is paying Apple billions per year to remain on the iPhone, Bernstein says

Todd Haselton, writing for CNBC;

Google is paying Apple billions of dollars to remain the default search engine on iPhones and iPads, Bernstein said in a note to investors on Monday.

The firm believes that Google will pay Apple about $3 billion this year, up from $1 billion just three years ago, and that Google’s licensing fees make up a large bulk of Apple’s services business.

Of course, Google will earn more than what they’re paid Apple in return. Just last quarter, the company reported a revenue of $26 billion.

So I’d say that $3 billion (a year) that they paid Apple is all worth it.