Executives from across Europe's technology, media and telecoms sector fear Internet search and advertising giant Google may steal their business, they told a Reuters summit this week.
Several managers cited the Silicon Valley-based company as one of their most feared rivals -- even if they did not know exactly how Google would become their competitor -- and one they should try to partner with if they knew what was good for them.
More Internet InsightsWhite PapersBuilding an Online Customer Experience Competency: Five Steps The 9 Noble Truths of Custom Experience: Website Wisdom for Everyone in the Organization "I am worried about Google, just because I don't know," Eric Simonsen, chief financial officer of telecoms infrastructure provider Nokia Siemens Networks, told the Reuters Technology, Media and Telecoms Summit in Paris.
"Our vision, with the world connected, primarily over the Internet, 5 billion people, and you look at the economic resources that Google has -- if I think they are not going there, that's a pretty stupid assumption on my part," he said.
"I have no idea how, I have no idea when, but I ought to be thinking about those kinds of things."
Google has branched out from its core businesses into areas as diverse as cellphone software, submarine communications cables and medical software, raising a wave of anxiety that has spread from the United States and is still rising in Europe.
In the US, companies as diverse as retailer Wal-Mart, agricultural commodity supplier Cargill and Wall Street banks have studied how Google could become a major challenger in the long run.
Such seemingly far-fetched concerns have a basis in Google's growing lock on Web search activity -- the starting point for consumers looking for information. Google's market share is more than 70 percent among the major search players in the world.
As a result, Google has come under the glare of competition regulators in Europe and the U.S. in the past year, egged on by Microsoft and major telecommunications carriers.
Original Post : http://infotech.indiatimes.com/News/Internet/Why_European_cos_fear_Google/articleshow/msid-3078757,curpg-1.cms
Several managers cited the Silicon Valley-based company as one of their most feared rivals -- even if they did not know exactly how Google would become their competitor -- and one they should try to partner with if they knew what was good for them.
More Internet InsightsWhite PapersBuilding an Online Customer Experience Competency: Five Steps The 9 Noble Truths of Custom Experience: Website Wisdom for Everyone in the Organization "I am worried about Google, just because I don't know," Eric Simonsen, chief financial officer of telecoms infrastructure provider Nokia Siemens Networks, told the Reuters Technology, Media and Telecoms Summit in Paris.
"Our vision, with the world connected, primarily over the Internet, 5 billion people, and you look at the economic resources that Google has -- if I think they are not going there, that's a pretty stupid assumption on my part," he said.
"I have no idea how, I have no idea when, but I ought to be thinking about those kinds of things."
Google has branched out from its core businesses into areas as diverse as cellphone software, submarine communications cables and medical software, raising a wave of anxiety that has spread from the United States and is still rising in Europe.
In the US, companies as diverse as retailer Wal-Mart, agricultural commodity supplier Cargill and Wall Street banks have studied how Google could become a major challenger in the long run.
Such seemingly far-fetched concerns have a basis in Google's growing lock on Web search activity -- the starting point for consumers looking for information. Google's market share is more than 70 percent among the major search players in the world.
As a result, Google has come under the glare of competition regulators in Europe and the U.S. in the past year, egged on by Microsoft and major telecommunications carriers.
Original Post : http://infotech.indiatimes.com/News/Internet/Why_European_cos_fear_Google/articleshow/msid-3078757,curpg-1.cms
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