iPhone
Photograph by David Paul Morris — Bloomberg via Getty Images
By Chris Matthews
January 22, 2016

And you thought you spent a lot on Apple products.

Google (GOOG) paid Apple (APPL) $1 billion in 2014 so that the company would keep Google’s search bar on its very popular iPhone product, according to court documents reviewed by Bloomberg. That’s before a revenue-sharing agreement that applies to any profits Google makes from the Apple iPhone.

The $1 billion figure, which had never before been made public, was revealed during a copyright lawsuit proceeding between database company Oracle (orcl) and the search engine giant. Lawyers from Google had requested that the judge in the case keep the $1 billion figure sealed from public view, but the judge denied the request.

The high number underscores just how important smartphones are as a profit portal for tech companies like Google and Amazon (amzn).

Fortune has reached out to Apple and Google for comment, and will update the story if the companies respond.

SPONSORED FINANCIAL CONTENT

You May Like

EDIT POST