Samsung is reportedly planning to replace Google with Microsoft’s Bing as the default search engine on its Galaxy phones and tablets.

The move by the South Korean consumer electronics giant could cost Google approximately $3bn in annual revenues, according to a New York Times report.

Samsung has long-standing relationships with both Google and Microsoft, hence its devices feature a wide array of Google and Microsoft apps and services like OneDrive and Google Maps.

Google, which almost enjoyed a monopoly in the search engine space, is now facing a serious challenge from Microsoft’s Bing after it integrated OpenAI’s technology to give ChatGPT-like responses to user queries.

According to internal correspondence examined by the publication, Google’s response to the Samsung threat was “panic.”

Google has a similar search engine agreement with Apple, which is up for renewal this year. In case the company fails to secure the deal, it may cost an additional $20bn in revenue.

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By GlobalData

However, talks are still ongoing, and Samsung may yet decide to stick with Google as its preferred provider, the report added.

In a bid to stay competitive, Google is working on several projects to upgrade and rejuvenate its search offerings.

These include incorporating artificial intelligence capabilities into its current offerings through a project called Magi.

 Nearly 160 Google employees are said to be working on the project, the report said.

Representatives of Google and Samsung refused to offer any comment over the report.