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Google (GOOG) paid Apple (AAPL) $701M in traffic acquisition costs last year in exchange for being the default search engine on iOS, estimates Morgan Stanley's Scott Devitt. He sees that figure rising to $877M this year and $1.1B in 2014. With Microsoft (MSFT) reportedly raising its offer for making Bing the default iOS engine, Devitt believes Google is now providing Apple with a 75% revenue cut. Those numbers drive home Android's importance to Google's future. (previous)
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