Google to Update Google Play Amid Losing Share in Key Markets to iTunes (GOOG) (AAPL)

Alphabet's (Nasdaq: GOOG)(Nasdaq: GOOGL) Google is planning to launch a revamped Google Play onto Android handsets this week as it looks to regain lost traction in key markets.

GlobalWebIndex noted today that about half of Internet users are using Google Play each month. Notably, over 50 percent of users from 16 to 34 years old have used the service, versus just 34 percent for the 55 to 64 crowd. The global metric puts Google Play about 8 points in front of Apple (Nasdaq: AAPL) iTunes.

While Google Play is big in APAC and MENA, the service has seen lagging demand in North American ad Australia.

Shares of Alphabet are down 0.7 percent Tuesday afternoon.

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