Softbank Operating Profit Increases as IPhone Lures Users
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Softbank Corp., the Japanese mobile-phone carrier that agreed last month to buy a $20 billion stake in Sprint Nextel Corp., boosted second-quarter earnings by luring users with Apple Inc.’s iPhone.
Operating income rose 6.7 percent to 210.6 billion yen ($2.6 billion) in the three months ended September, the Tokyo-based company said in a statement yesterday. The carrier is also considering reducing its stake in eAccess Ltd. to one-third after the 180 billion yen acquisition is completed, Softbank President Masayoshi Son told reporters in Tokyo yesterday.