CEO says social network is a net positive for his company
Microsoft, not Facebook, is Google’s main competitor, the search engine company CEO Eric Schmidt said at the World Economic Forum at Davos.
He said he considered the Windows maker as Google’s competition because the two companies have a long history of rivalling with each other.
Dismissing rumours that Facebook is a threat to Google, he said the growth of the social network phenomenon has actually helped Google as people who used Facebook were also more frequent users of the search engine.
"Facebook usage is a net positive for us," he said.
He denied the rumours that his retirement was because of increased competition from sites such as Facebook. Schmidt has recently announced that he was stepping down as the CEO to take on the role of the executive chairman of the company.
"I am sure Facebook is doing well and we are doing extremely well," he said.