Softbank 3Q profit doubles on iPhone sales

Jan 31, 2013

Japanese phone company Softbank, owned by billionaire Masayoshi Son, says its net profit more than doubled in the October-December quarter from a year earlier, helped by strong sales of Apple's iPhone and iPads.

Net profit rose to 65.9 billion yen ($724 million) in the last quarter of 2012 compared with 32.83 billion yen a year earlier.

Sales rose 7 percent to 932.7 billion yen ($10.2 billion).

Softbank is seeking approval from U.S. authorities for its $20 billion purchase of a 70 percent stake in Sprint Nextel Corp. that would be Japan's biggest foreign acquisition ever. It expects to complete the sale by mid-year, it said.

Softbank, which also offers fixed-line broadband services, has carried out an aggressive marketing drive in recent years, starring a talking white dog that has proved popular among Japanese.

The company credited strong sales of the iPhone5, iPad and "mimamori" phones with security buzzers in them for its stronger earnings in the previous quarter, as its market share rose to 24.3 percent with the addition of 2.37 million new subscribers in April-December. The company had 31.3 million subscribers as of the end of 2012.

Explore further: Weibo IPO below expectations, raises $285.6 mn

1 /5 (5 votes)
add to favorites email to friend print save as pdf

Related Stories

Japan's Fujitsu hit by third-quarter loss

Jan 31, 2012

Japanese high-tech giant Fujitsu plunged into a net loss for the three months to December, it said Tuesday, as it slashed its full-year sales and profit forecast.

Softbank reports robust earnings on smartphones

May 09, 2011

(AP) -- Softbank Corp., the only Japanese mobile carrier offering the hit iPhone, said annual profit nearly doubled despite suffering damage from the March 11 quake and tsunami that battered northeastern ...

Japan's Softbank unloads Yahoo! shares

Aug 26, 2011

Japanese telecom giant Softbank on Friday said it was selling the bulk of its holdings in US Internet firm Yahoo! to Citibank in repayment of a 2004 loan.

Panasonic returns to profit in 1Q on cost cutting

Jul 31, 2012

(AP) — Panasonic Corp. said Tuesday it returned to the black in the April-June quarter, logging a net profit of 12.8 billion ($163 million) mainly on lower costs after cutting more than 38,000 jobs over ...

NEC sees losses triple

Jan 27, 2011

Japan's NEC said Thursday its net loss in the October-December quarter almost tripled from a year earlier, blaming a delay in the recovery of IT-related capital investment in the country.

Toshiba returns to black on smartphone chip demand

Jan 31, 2011

(AP) -- Toshiba Corp. said Monday it returned to the black in the October-December quarter thanks to robust global demand for the flash memory chips used in digital cameras and smartphones.

Recommended for you

Weibo IPO below expectations, raises $285.6 mn

2 hours ago

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

4 hours ago

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Fired Yahoo exec gets $58M for 15 months of work

4 hours ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

IBM posts lower 1Q earnings amid hardware slump (Update)

13 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exacerbated by weaker demand in China and emerging markets.

User comments : 0

More news stories

Sony's PlayStation 4 sales top seven million

Sony says it has sold seven million PlayStation 4 worldwide since its launch last year and admitted it can't make them fast enough, in a welcome change of fortune for the Japanese consumer electronics giant.

Robotics goes micro-scale

(Phys.org) —The development of light-driven 'micro-robots' that can autonomously investigate and manipulate the nano-scale environment in a microscope comes a step closer, thanks to new research from the ...

Biologists help solve fungi mysteries

(Phys.org) —A new genetic analysis revealing the previously unknown biodiversity and distribution of thousands of fungi in North America might also reveal a previously underappreciated contributor to climate ...