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Softbank profit surges on brisk smartphone sales

Softbank profit surges on brisk smartphone sales

July 28th, 2011 in News

TOKYO (AP) - Softbank Corp., the sole carrier of Apple's iPhone in Japan, says quarterly profit surged also fivefold due to strong demand for smartphones.

The Tokyo-based company says net profit totaled 94.79 billion yen ($1.2 billion) in the first quarter of the fiscal year through March 2012. That compares to 19.44 billion yen during the same period last year.

Sales rose 9 percent to 764.2 billion yen and operating profit climbed 12 percent to 175.83 billion yen.

Its mobile business added a net 730,000 subscribers during the quarter.

Softbank did not release financial forecasts for the full fiscal year.