MacNN | Apple products continue to drive Softbank mobile profits
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Apple products continue to drive Softbank mobile profits
Thursday, January 31, 2013 @ 10:02pm

Japanese mobile phone operator Softbank doubled its profits in the third quarter largely on the strength of Apple's iPhone and iPad. Net income climbed to 65.9 billion yen ($724 million) in the quarter that ended in December, up from $357.5 million a year ago. Sales grew 7.1 percent to $10.1 billion. The company rose 2.7 percent to close at $35.53 per share before the earnings announcement.



The company purchased a $20 billion share of Sprint Nextel to expand into the US, and also purchased Japanese company eAccess to meet iPhone bandwidth increases caused by the iOS devices on its network. The company believes that sales of Apple products have helped Softbank increase its earnings by seven times during the last four years. “Sales of the iPhone 5 have been strong, contributing positively to our earnings,” CEO Masayoshi Son said. Credit Suisse Group AG analyst Hitoshi Hayakawa said that "everything’s going well for Softbank, unlike DoCoMo." Japan's largest wireless company DoCoMo posted declining earnings but increasing income for 2012. DoCoMo doesn't offer the iPhone, and suffered a loss in subscribers in November and December, the first losses in five years.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • Cellphone unlocking bill without bulk unlock ban passed by House - 4:10 PM EST
  • Forums: Why isn't anyone so excited about Yosemite? - 3:46 PM EST
  • Verizon to begin throttling some unlimited LTE users - 3:45 PM EST
  • Apple deals: budget priced Macs from $719 - 3:45 PM EST
  • DealNN: $300 off 15.4-inch rMBP - 3:44 PM EST
  • Bose suing Beats over infringement of active noise reduction patents - 3:29 PM EST
  • iPhoto users to lose Journals, Books, Slideshows in iOS 8 transition - 3:04 PM EST
  • Lyft caves to NYC regulators, strict TLC-regulated licensure required - 1:24 PM EST
  • Apple manufacturing expenses surge to $15.4B in Q3 - 12:46 PM EST
  • Production of new iPads, 5.5-inch iPhone yet to begin, rumor claims - 11:15 AM EST
  • Friday Deals: 4TB Hard drive, Surface RT, OTA TV streamer, more! - 10:43 AM EST
  • Swiss Apple Store expansion may require first 'open-air' temp shop - 9:46 AM EST
  • ComiXology starts offering DRM-free backups of digital comics - 6:16 AM EST
  • OS X Yosemite public beta includes iTunes 12 beta access - 1:24 AM EST
  • Briefly: Gmail for iOS update, EverWeb for Mac 1.5 - 12:56 AM EST
  • Review: Razer Taipan mouse - 12:45 AM EST

    Today's iPodNN Stories:
  • Russian government offers $110,000 bounty for Tor tracking code - 3:27 PM EST
  • Amazon Fire Phone now available to purchase in United States - 12:05 PM EST
  • LG reportedly testing user removal of pre-installed "bloatware" - 10:31 AM EST
  • Briefly: Google Glass webcam support, Google Play offline games - 8:31 AM EST
  • Presidential executive order over drone usage reportedly on the way - 7:34 AM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.