SoftBank Notches Record Sales To Back Sprint’s $16 Billion Network Upgrade

A SoftBank store in Tokyo | Photo courtesy of Creative Commons
SoftBank hopes to see increased revenue from Sprint's investment in its wireless network. | Photo courtesy of Creative Commons

Sprint plans to invest $16 billion in building faster network services to increase revenue for its parent company, SoftBank, and allow Sprint, the third-largest U.S. wireless provider, to compete with larger carriers AT&T and Verizon Wireless.

SoftBank, which is based in Tokyo, finalized its $21.6 billion acquisition of Overland Park, Kan.-based Sprint in July. SoftBank sales are expected to exceed $61 billion in the 12 months ending March due to the decision to open a new network.

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