Google 2014 Annual Report Download - page 11

5GOOGLE INC.


ITEM1A. Risk Factors


capital stock.
Risks Related to Our Business and Industry
We face intense competition. If we do not continue to innovate and provide products and services that are useful to users,
we may not remain competitive, and our revenues and operating results could be adversely aected.
Our business is rapidly evolving, intensely competitive, and is subject to changing technologies, shifting user needs, and frequent
introductions of new products and services. Competing successfully depends heavily on our ability to rapidly deliver innovative
products and technologies to the marketplace and provide products and services that make our search results and ads relevant
and useful for our users. As our business has evolved, the competitive pressure to innovate will now encompass a wider range
of products and services, including products and services that may be outside of our historical core business.

search engines and e-commerce websites, social networks, providers of online products and services, other forms of advertising
and online advertising platforms and networks, other operating systems, and wireless mobile device companies. Our current and

companies have longer operating histories and more established relationships with customers and users, and they can use



products and services faster than we can or may foresee the consumer need for products and services before us.
Our competitors are constantly developing innovations in search, online advertising, wireless mobile devices, operating systems,
and many other web-based products and services. The research and development of new, technologically advanced products is
also a complex and uncertain process requiring high levels of innovation and investment, as well as the accurate anticipation of

development, including through acquisitions, in order to enhance our search technology and our existing products and services,

and services, then acceptance rates for our products and services could decline. In addition, these new products and services may


needs of our users, advertisers, and Google Network Members, are not appropriately timed with market opportunities, or are



compelling products or in attracting and retaining users, advertisers, and content providers, our revenues and operating results

Our ongoing investment in new businesses and new products, services, and technologies is inherently risky, and could
disrupt our ongoing businesses.







More people are using devices other than desktop computers to access the Internet and accessing new devices to make
search queries. If manufacturers and users do not widely adopt versions of our search technology, products, or operating
systems developed for these devices, our business could be adversely aected.
The number of people who access the Internet through devices other than desktop computers, including mobile phones,
smartphones, handheld computers such as netbooks and tablets, video game consoles, and television set-top devices, is increasing
dramatically. The functionality and user experience associated with some alternative devices make the use of our products and