Softbank Buys 70 Percent Of Sprint

Sprint promised Apple $20 billion over a four year period when they acquired the iPhone, but this decision really impacted their financial situation. Japanese Carrier Softbank has recently purchased 70 percent controlling interest in Sprint, but what does this mean for you? Will this change everything you know and love about Sprint?

According to Business Insider:

The purchase is a huge one for Softbank, which is essentially making a $20 billion gamble that it success in developing LTE wireless services in its home market of Japan can be translated to the U.S. Sprint, while the third largest wireless provider in the U.S., significantly trails the two market leaders, Verizon and AT&T.

Softbank’s hope, say people familiar with its strategy, is to build on Sprint’s spectrum position, while hoping the company can further consolidate the wireless industry through acquisitions of more spectrum and other operators. The deal is expected to close in roughly six months

Goodbye unlimited data? I can hear them now, “How can you possible profit when you’re giving away data.” Watch out, I’m sure this change is going to spark some creative overhauls within Sprint in the future.

Source: Business Insider via MacRumors

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