SoftBank Says Apple’s iPhone Has Been Good for Business

On Thursday, Softbank reported earnings for the last quarter. And there were only treats – no tricks – in store for the Japanese telecommunications giant on Halloween. Third quarter earnings results show that Softbank’s quarterly net profit climbed 44 percent from one year earlier. Softbank credits Apple with the jump. Since welcoming the device into …   Read More

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SoftBank Says Apple's iPhone Has Been Good for BusinessOn Thursday, Softbank reported earnings for the last quarter. And there were only treats – no tricks – in store for the Japanese telecommunications giant on Halloween.

Third quarter earnings results show that Softbank’s quarterly net profit climbed 44 percent from one year earlier.

Softbank credits Apple with the jump. Since welcoming the device into the fold, Apple’s iPhone has been a huge seller for Sotbank and across Japan for that matter.

As of the end of September, the iPhone now represents nearly one-third of the entire Japanese smartphone market.

According to Reuters, SoftBank has forecast its sales this financial year to top the 6 trillion yen mark.

“While the tech giant suffered a profit drag from an operating loss at U.S. mobile operator Sprint Corp, it reported record six-month operating profit of 715.1 billion yen on Thursday – a rise of more than 60 percent and on track to meet billionaire founder Masayoshi Son’s target of 1 trillion yen in the year to next March,” the report reads.

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