Newsweek, May 14, 2018 | Updated May 15, 2018 11:14:00This week, Google’s chief executive Eric Schmidt said he expects Google to focus on its search engine as it tries to avoid another round of consolidation.
Schmidt told investors in a conference call Monday that Google is “not focused on a new business unit” but rather on “a very successful one” in search.
“We will be doing some business-focused work,” Schmidt said.
Schmidt also said Google would continue to “serve as the go-to destination for information for a lot of people in the world.”
Google, which is headquartered in Mountain View, California, is the world’s largest search engine.
It’s the subject of a recent lawsuit that accuses the company of colluding with Facebook in a plan to merge the two companies into a company with more than 300 million users.
Schmidt said that after a year of trying to focus Google’s search engine, the company was taking a “decision” to reframe its business.
“There will be no more search engine division at Google,” Schmidt told the investors.
Schmidt didn’t say when Google will announce the new business.
The company’s search business, which includes its YouTube and Gmail apps, accounts for more than 40 percent of its revenues.
Google has been facing criticism for its aggressive growth strategy.
The search giant recently made a $100 million investment in an advertising startup, which has been accused of targeting users who are likely to use Google’s services in search results.
Schmidt defended the move, saying that Google had become more focused on its products.
“In the last year or two, we’ve been focused on product and on getting our product out there in a more efficient way,” Schmidt explained.