SoftBank's Son urges patience with Sprint

|About: SoftBank Group (SFTBF)|By:, SA News Editor

SoftBank (SFTBF.PK) founder Masayoshi Son on Sprint (S +2.3%): "It takes time to get devices ready and prepare services and the network ... At the very least you need half a year or a year. And for anything substantial you need one or two years."

Sprint investors are hoping Son can work some of the magic he worked in Japan, where a share-losing/also-ran Vodafone unit was transformed into a major share-gainer following its acquisition by SoftBank.

However, many on the Street are on edge over recent share losses, Sprint's new (aggressively priced) service plans, and heavy 4G capex. After talking with management, New Street Research's Jonathan Chaplin recently forecast Sprint will lose 1.2M subs in 2014; he previously estimated the carrier would add 100K.

Yesterday: Kantar's June-August smartphone sales estimates