Google has changed the way we search online, but amid the rise of mobile apps, the tech giant’s dominance in search is being threatened. Google doesn’t clearly state its mobile revenues on financial statements, so the magnitude of the problem remains unclear. Still, advertising accounted for 89% of Google’s revenue during fourth quarter. TheStreet’s Scott Gamm speaks with Jennifer Van Grove a staff reporter for TheStreet to discuss how smartphone apps are hurting Google’s bottom line and the future of Google’s search presence, especially as the tech giant’s contract to be the default search engine on Apple’s Safari is set to expire.
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