SoftBank Credits iPhone with Revenue Spike
There was nothing scary at all about the earnings information reported on Halloween by Softbank.
The Japanese telecommunications giant reported earnings on Thursday for the third quarter of 2013. And the numbers show that the company's quarterly net profit rose 44 percent from a year earlier.
The reason for the jump, Softbank says, has much to do with Apple. Apple's iPhone has been a huge seller in Japan this year. In fact, the iPhone now represents nearly one-third of the entire Japanese smartphone market. And with the recent addition of NTT DoCoMo as an iPhone carrier, Apple's prospects in Japan have never looked more promising.
According to Reuters, SoftBank has forecast its sales this financial year will breach 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.