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Shares of Google-parent Alphabet (NASDAQ:GOOGL) Inc gained more than 1% in premarket trading. Microsoft shares were down about 1%.
Samsung (KS:005930) has suspended an internal review that explored replacing Google with Bing on its web-browsing app, which comes pre-installed on the company’s smartphones, according to the report.
Google, Samsung, and Microsoft did not immediately respond to Reuters requests for comment.
A sizable part of the revenue earned by search-engine companies comes from their long-term partnerships with phone makers such as Apple Inc (NASDAQ:AAPL) and Xiaomi (OTC:XIACF).
Google earns an estimated $3 billion in annual revenue from the Samsung contract, according to an April 16 report by the New York Times.
Samsung considering a potential shift to Bing was first reported last month and had weighed on Alphabet’s shares at the time.
The integration of OpenAI’s artificial intelligence technology into Microsoft-owned Bing has driven people to the little-used search engine and helped it compete better with market leader Google in page visits growth, according to data from analytics firm Similarweb (NYSE:SMWB).
