toggle

AAPL Stock: 113.29 ( + 0.37 )

Printed from http://www.macnn.com

Apple products continue to drive Softbank mobile profits

updated 10:02 pm EST, Thu January 31, 2013

Softbank only Japanese cell operator increasing subscribers

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.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented