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SoftBank sells off Nvidia and Flipkart stakes to bank $5.6 billion in exits for 2018

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(Image: SoftBank Group)

For the nine months to the end of the December, SoftBank has made a cumulative return of $5.6 billion for its 2018 fiscal year, made up of $3.3 billion from selling its stake in Nvidia, and $2.3 billion selling its shares in Flipkart.

SoftBank said its SoftBank Vision Fund completed the Flipkart exit in August, and sold off its Nvidia stake last month.

With Nvidia, SoftBank had a total investment cost of $2.9 billion made up of $0.7 billion in equity, $0.5 billion in preferred equity, and a $1.7 billion margin loan at August 2017. By the end of August, its equity had risen to $3.3 billion, with the same size of preferred equity and margin loan.

SoftBank pointed out that from Nvidia’s $281 peak share price on September 28 to the end of December 2018, when it sat at $134, its investment valuation had fallen by $4 billion. Through the use of derivatives via a collar transaction, it was able to recover $2.9 billion.

In May, Walmart took control of Flipkart for $16 billion, of which SoftBank had a 20 percent share.

SoftBank said that thanks to the 43.68 percent taxation rate on short-term capital gains in India, it had paid 65 million yen in tax on the Flipkart transaction.

Overall, the SoftBank Vision Fund investment vehicle had valuation gain of 693 billion yen for the nine months to the end of 2018, based on increases in valuations of Uber, WeWork, and Oyo.

Speaking during an earnings briefing on Wednesday, SoftBank Group CEO Masayoshi Son said the Vision Fund had made investments in over 70 companies, most of which were unicorns and focused in some way on artificial intelligence.

In its Arm chip-designing division, adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) was down from 24 billion yen last year to 10 billion yen for the nine months to December 31, this year, mostly due to taking a 176 billion yen hit from selling 51 percent of Arm China to create a joint venture.

Net sales for Arm were down four percent, and technology licence revenue dropped by 28 percent year on year. SoftBank said the drop was due to a delay of new contracts being signed in China during the first half of the year. Once signed, revenue returned to normal.

From its telco holdings, SoftBank Corp reported a 0.6 percent increase in adjusted EBITDA to 986 billion yen for the nine-month period, with sales growing by 4 percent, and US telco Sprint increased its EBITDA by 15 percent to 1 trillion yen for the three quarters to December 31 as sales grew 2.7 percent.

SoftBank said that the new revenue standards which dropped average revenue per user (ARPU) by 96 cents, and the increasing uptake of smartwatches and automotive data devices which have lower ARPU than handsets, has made overall postpaid phone ARPU $50, and postpaid ARPU sit at $43.64.

For the conglomerate in total, SoftBank Group recorded 7.2 trillion yen in net sales, up 5 percent, and a 62 percent boost in operating income to 1.8 trillion yen for the nine months to the end of 2018. Net income for SoftBank Group was 1.57 trillion yen, an increase of 31 percent.

During that time, SoftBank Group reduced its ownership in SoftBank Corp from 99.99 percent to 66.49 percent.

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The Easiest Way To Back Up Your Android Phone’s Data

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Google’s service for saving and restoring photos and videos is called “Backup & Sync.” It works across all platforms. But the tool is pre-integrated into the Google Photos app for Android.

  1. To create a backup for your photo and video gallery, download and install Google Photos from the Play Store (if you haven’t already).
  2. You’ll be asked to sign in with a Google Account of your choice.
  3. After signing in, tap your profile picture in the corner to pull up the preferences.
  4. Next, navigate to Photos Settings > Backup & Sync and toggle the switch.
  5. Backup & Sync will automatically start saving your photos and videos to the cloud. Once the process is completed successfully, you will see a green accent and a checkmark around your profile picture.

Unless you’re on a Pixel phone, the storage isn’t unlimited. From June 1, 2021, Google only offers 15GB of free storage. But you can always buy extra storage or adjust the upload size to save space. To change the Upload size, scroll down the Backup & Sync menu and select Upload size. And pick from Storage saver or Original quality modes (via Google).

Also, you can specify individual folders if you don’t need to back up your entire gallery. Go to Backup and Sync > backup device folders and toggle your chosen folders from the list.

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Why Your Android Phone Goes Straight To Voicemail And How To Fix It

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If you need periods blocked off in your day to focus or relax, the Do Not Disturb Mode is a handy feature to have. You can either block all phone calls or only accept calls or messages from the contacts you want to hear from. If this setting is enabled, it also blocks app notifications, text messages, and alarms. But what if you forget to turn it off? Or switch it on by accident? Depending on who calls, you probably won’t hear your phone ring, and their calls will most likely go to voicemail.

Here’s how you can turn it off in three simple steps.

  1. Swipe down from the top of your screen to pull down your phone’s notification menu.

  2. Check if the Do Not Disturb button is enabled at the bottom right.

  3. If it’s on (the button will be lit). Tap once to turn it off.

Another way to turn off the Do Not Disturb function is to go through the settings menu on your phone.

  1. Go to the Settings app on your phone

  2. Hit Sound & vibration > Do not disturb > Turn on/off now.

  3. If you own a phone that is Android 8.1 and below, press Sound > Do not disturb. Toggle the switch on/off

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The Galaxy Note Is Dead, But Its Spirit Will Live On Every Year

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According to notorious tipster @Ice universe, Samsung mobile division head TM Roh was quoted as saying that the Galaxy Note will appear in the form of the Galaxy S Ultra every year. The direct implication here is that there will no longer be a Galaxy Note model moving forward. It also suggests that the Galaxy S Ultra models will retain the same form and features as the Galaxy Note, just like the Galaxy S22 Ultra released in 2022.

In terms of features, that basically means that the Galaxy S Ultra model will continue carrying an S-Pen inside its body. That design change started with the Galaxy S22 Ultra this year, in contrast to the previous Galaxy S21 Ultra generation, which had no room for the stylus inside. That same ultra-large phone distinguished itself from the Galaxy S22 and Galaxy S22+ with its boxier design, similar to that of the latest Galaxy Note models. Whether that design will remain going forward is still unknown, but the exact appearance of the Galaxy Note was never its defining feature anyway.

This news, if confirmed to be official, will probably send mixed feelings to Galaxy Note fans. On the one hand, they will be relieved that the S Pen isn’t going anywhere, at least not yet. On the other hand, the brand beloved by professionals and creatives is finally being retired after almost a decade of service. The move will at least help consolidate Samsung’s Galaxy S brand and even make the S-Pen a staple of its flagship — and hopefully, it will at least stay that way for more years to come.

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