ANALYST: Apple Snub Won’t Hurt Google Just Yet

Analyst Gene Munster believes the rumored exclusion of Google Maps from Apple’s (NASDAQ:AAPL) mobile devices will not affect Google’s (NASDAQ:GOOG) revenue this year. According to the Piper Jaffray analyst, iOS devices will contribute the largest portion of Google’s mobile revenue in 2012 and represent two percent of the company’s total revenue.

Don’t Miss: INTRODUCING The iPhone 5.

Munster’s comments came as Apple and Google intensified their smartphone map apps battle. Apple is predicted to be doing away with the Google program in the next version of its mobile operating system to be launched later this year with an in-house one. In response, Google rushed to release an update to its own app with several new features.

The analyst wrote in a note to investors that he estimated Google would take in $4.5 billion in mobile revenue over the year, with $500 million coming from display ads and $4 billion from search. He further calculated iOS contribution at 40 percent of Google’s mobile profits, coming up approximately to $1.6 billion.

Munster also thinks that Google Maps will continue to be available through the iTunes App Store even if Apple does away with a built-in version of it.

“In the next 3-6 months, we expect to see Google become more aggressive in offering mobile Apps on iPhone including Maps and Chrome,” writes Munster. “Longer term, we believe iOS will be a significant platform of mobile advertising growth and expect Google to find ways to participate in those ad dollars.”

Munster also thinks that Apple’s Siri was likely to extend the battle between the two companies to web search, but that Google may respond by offering its own apps.

Investing Insights: RIM Weighed Down By MAJOR Problems Ahead of New BlackBerry Launch.