U.S. car manufacturers decades ago milked profits out of poor technology and got outcompeted by Japan on both quality and price. The same thing is happening right now with fast Internet service. We may not have to wait for Verizon and AT&T to get around to offering affordable fast 4G LTE Internet service: Sprint may do it first, now that Japan’s Softbank is stepping in.
Roger Chang wrote for CNET News 15 October 2012, Japan’s Softbank poised to supercharge Sprint network: Softbank CEO complains that U.S. networks are too slow, and with his $20 billion bid for Sprint, he aims to do something about that.
Softbank CEO Masayoshi Son isn’t impressed with the high-speed wireless networks in the United States.
“Everytime I come to the U.S., I say ‘Oh my God, the mobile phone network is so slow,'” Son said during a conference call with analysts today.
Now, Son is in a position to change things to his liking after Softbank and Sprint Nextel agreed on a deal in which Softbank would take a 70 percent stake in the U.S. carrier.
Sprint, which has struggled as a distant No. 3 carrier behind AT&T and Verizon Wireless, could get a boost from the deal, in which Softbank spends $12.1 billion to buy the controlling stake and another $8 billion in investment into the company.
What’s he aiming at improving?
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