We don’t care about Apple but when a plan to go against it goes down, we take notice. Softbank, a Japanese telecommunications and Internet multinational company, has been reported to invest in a smartphone startup that will rival Apple’s iPhone. Now we’re hearing that it’s been scrapped because the company is getting close with Apple. Softbank and Apple’s relationship is believed to be getting closer so that plan to make a new phone by Android software’s creator will not push through.
Essential Products Inc. and Softbank are believed to have finalized talks, at least, informally so this comes as a surprise. The investment would have been $100 million for the new startup that is currently valued at a billion dollars. Andy Rubin’s latest company is expected to be another success like Android and will be more than ready to beat the iPhone. We don’t know the exact business plans and strategies yet but this news may make a number of changes or delay some things.
Softbank’s Mr. Son is said to have backed out of the deal just as investment contracts are being prepared last February. Supposedly, it would be the final negotiation but Apple and Softbank’s partnership is a bit close yet complicated.
We don’t have much details about the situation but we’re left wondering what will happen to Rubin’s group now. Look for a new investor? We know there will be OEMs more than willing to invest especially if the main goal is to topple Apple. We’ll see.