Eric Schmidt says search market is not clear at first sight
Google chairman Eric Schmidt reportedly claimed that e-Commerce major Amazon is company’s biggest search rival, not any other traditional competitors.
AFP cited Schmidt as saying: "Many people think our main competition is Bing or Yahoo. But, really, our biggest search competitor is Amazon.
"People don’t think of Amazon as search, but if you are looking for something to buy, you are more often than not looking for it on Amazon."
"Someone, somewhere in a garage is gunning for us. I know, because not long ago we were in that garage. Change comes from where you least expect it.
"The next Google won’t do what Google does, just as Google didn’t do what AOL did."
Schmidt also challenged claims from travel firms including Yelp and TripAdvisor over its anti-competitive behaviour by noting: "The reality is that Google works very differently from other companies that have been called gatekeepers, and regulated as such. We aren’t a ferry. We aren’t a railroad."
Recently, the European Union (EU) has notified Google to improve its proposal to resolve the long running antitrust issues over its search practices, as its EU rivals were not happy with its ‘dominance’ concessions.
If Google fails to modify its proposal, it may face a $6bn fine, equating to about 10% of the its global revenue, EU has warned.