TOKYO (Reuters) - SoftBank Corp announced a near $1 billion share buyback and a higher quarterly profit as loss-making Sprint Corp fared better than expected, with the Japanese telecoms group forecasting "light at the end of the tunnel" for its U.S. unit.
The share buyback worth up to 120 billion yen ($961.69 million) would be SoftBank's biggest ever if carried out in full. CEO Masayoshi Son attributed the surprise move to its lackluster share price and renewed confidence in Sprint which SoftBank bought for more than $20 billion in 2013 but has struggled to turn around.
HONG KONG (Reuters) - Chinese telecommunications equipment maker ZTE Corp said on Friday it has struck a deal with SoftBank Corp to deploy its "pre-5G" technology in Japan, with a commercial trial to begin early next year.
ZTE has touted its "pre-5G" technology as providing faster speeds on 4G network. It sees it as intermediate step between current 4G technology and 5G, the next generation of networks that the wireless industry is hoping to have up and running by 2020.
TOKYO (Reuters) - Japan's SoftBank Corp will soon downsize its Silicon Valley offices, people with knowledge of the matter said, signaling the company won't revive efforts to buy T-Mobile U.S. Inc.
SoftBank subsidiary Sprint Corp dropped its bid to acquire the No. 4 U.S. carrier in August but the companies did not rule out future consolidation.
TOKYO (Reuters) - Japan's wireless network providers are to lift restrictions on which network their subscribers can use, the government said, demanding that all smartphones and tablets to be sold with their SIM cards unlocked upon customers' request starting next year.
The Ministry of Internal Affairs and Communications said on Friday that all smartphones and tablets are to be sold with their SIM cards unlocked if customers ask for it and at no cost to users, from May 2015.
TOKYO (Reuters) - Japan's SoftBank Corp and its U.S. mobile carrier Sprint Corp will offer a Sony smartphone for the first time, sources with knowledge of the matter said, as the two technology titans confront daunting challenges in the U.S. market.
The deal could give a much-needed boost to Sony's struggling mobile division, which last month said it no longer expected to make a profit in the year to next March. It will also bolster Sprint's handset line-up as it seeks to stem a flight in subscribers.
(Reuters) - Search engine Google Inc and five Asian telecom and communications companies have agreed to invest about $300 million to develop and operate a trans-Pacific cable network connecting the United States to Japan.
To be named "FASTER," the cable network will have an initial capacity of 60 terabits per second and will connect Los Angeles, Portland, San Francisco, Oregon and Seattle to Chikura and Shima in Japan.
(Reuters) - Sprint Corp S.N has dropped its bid to acquire No. 4 U.S. carrier T-Mobile U.S. Inc TMUS.N after regulatory resistance showed no signs of softening despite months of lobbying, people familiar with the matter told Reuters.
Sprint's shares plunged 19 percent to $5.90, while T-Mobile fell 10 percent to $30.38 on Wednesday.
The move is a rare setback for Sprint's Japanese parent, SoftBank Corp 9984.T, whose billionaire founder Masayoshi Son had seen the acquisition as key to taking on U.S. market leaders AT&T Inc T.N and Verizon Communications Inc VZ.N.
TOKYO (Reuters) - Japan's KDDI Corp and SoftBank Corp said bigger rival NTT DoCoMo Inc (DoCoMo) could gain too much control of the wireless telecommunications business should DoCoMo's parent offer its fibre-optic broadband for resale.
Former state monopoly Nippon Telegraph and Telephone Corp (NTT) in May said it planned to sell its fibre-optic broadband to mobile phone network providers, which can then re-brand the service and sell it together with mobile phone contracts.