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As Samsung apparently considers switching from Google to Bing in cell phones, Alphabet sees a $55 billion decline in market value

A story from The New York Times stated that pressure has grown in the mobile search industry, which caused Alphabet stock to decline by up to 4% on Monday, wiping out roughly $55 billion in market value.

According to the source, Samsung is considering making Microsoft’s Bing Search the primary search engine throughout its whole range of devices instead of Google, which might risk nearly $3 billion in yearly earnings for Alphabet.

Earlier in the year, an agreement of the exact nature between Alphabet and Apple that brings Alphabet roughly $20 billion in yearly earnings is up for renewal.

When Google staff members discovered in March that Samsung might be taking over for Google and The New York Times examined private messages from Alphabet staff, they were stunned.

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