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Business

Samsung woes may benefit Google more than Apple

Opening sequence

Opening sequence

Business

Samsung woes may benefit Google more than Apple

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COMING UP:Samsung woes may benefit Google more than Apple

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Transcript

00:00:00
>> The world's largest smartphone maker Samsung halting production Tuesday of its Galaxy Note 7 after reports of fiery batteries, clearly opening the door for rivals to capitalize. But for Apple, its biggest competitor, the opportunity may not be as big you think, says Reuters breaking news columnist Rob Serin.
00:00:20
>> There are a lot of companies making Android phones, a ton of them, all of them losing money except Samsung. I can't imagine users saying, okay, I don't like Samsung so I'm going to go with Apple. Probably not that many will do that. More people will probably say, I'll try another Android phone cuz they have lots of apps already.
00:00:35
They perhaps have other content made for Android. So they're not gonna want to give that up by going to an Apple ecosystem I imagine.>> That could mean an opportunity for Google and its new Pixel phone, which runs on Google's Android mobile software and just came out in the midst of the Samsung storm.
00:00:52
But experts quickly point out Google's horrible track record with hardware. Despite the doubts, shares of Google parent Alphabet touching an all time high Tuesday, and Apple's stock rallied to its highest all year. While Samsung shares tumbled 8%, some $20 billion of market value evaporating. But there was a minor bright spot for Samsung.
00:01:15
Tuesday also brought the first day of arguments before the US Supreme Court in Samsung's case against Apple. Justices offering some hope that Samsung might get back a chunk of the $0.5 billion payment to Apple in the mother of all patent disputes. A ruling wont come out until June, 2017.