Alphabet shares dip on report Samsung phones may switch to Microsoft Bing search

The move could cost Google billions in advertising revenue and reportedly shocked employees, given Samsung's longtime relationship with Google.

Google pays billions of dollars every year to phone manufacturers, including a reported $20 billion annually to Apple, to serve as the default search engine. In return, the search company reaps billions of dollars worth of advertising, which has long been a profit center for Google.

Samsung and Google's deal is up for renewal soon, the Times reported, and is worth an estimated $3 billion in revenue to Google. Samsung is a major Android manufacturer, and the news that Samsung would consider a switch reportedly surprised Google employees.Google has more than a 90% share of the search market,

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