Softbank posts USD288 million net income (Japan)

www.WirelessFederation.com/news: Softbank Corp has reported net income of JPY27.4 billion (USD288 million), up 41.4% year-on-year after the company cut costs and achieved a slight increase in revenue of 2.9% to JPY666.3 billion. The company said the soaring profit in April-June was boosted by lower procurement costs for its e-commerce business and by holding fewer handsets in storage compared with the amount sold. The telco is an exclusive seller of the Apple iPhone in Japan, which proved to be a contributing factor to the cellco’s increased revenue from wireless internet and data-based applications.