18th May 2006 07:03
Vodafone Group Plc18 May 2006 18 May 2006 VODAFONE AND SOFTBANK AGREE TO FORM MOBILE PARTNERSHIP Vodafone and Softbank today announce an agreement to form a partnership toconduct joint development and procurement of mobile technology and content. The proposed partnership intends to harness the mobile and Internet expertiseand assets of Vodafone and Softbank in Japan to develop hardware and softwarefor the mobile Internet. The partnership will initially focus on three keydevelopment areas: 1. Handset Development and Procurement The partnership will work with manufacturers to develop and procure technicallyadvanced handsets which can be manufactured at low cost. 2. Service Platforms and Mobile Portals The partnership will develop software that will enhance the customer experienceby providing a much richer user interface through mobile portals. 3. Content Vodafone and Softbank will work together sourcing content which will bedeveloped and aggregated to take advantage of the partnership's proposedadvanced handset technology. Based on successful development in the above areas, the partnership will alsopotentially consider expansion into other areas. Under the agreement, Japan will be the centre of development activity betweenthe joint venture partners. Both companies will have equal ownership of thepartnership. It is envisaged that technology developed under the partnership will becentrally sourced and made available to Vodafone and Softbank group companies aswell as other companies under licence. The formation of the partnership is conditional upon regulatory approvals andagreement by the parties of definitive documentation. Arun Sarin, Chief Executive, Vodafone, commented: "I'm pleased to be able to announce our agreement with Softbank today. As westated at the time of our sale of Vodafone KK to Softbank in March, we intend tocontinue our relationship with Softbank, one of the leading telecommunicationsand media companies in Japan, to benefit from insights into the Japanese market.By working together, we will be able to develop new mobile technologies andcontent for the benefit of our customers, as well as offering our developmentsunder licence." Masayoshi Son, CEO and President of the Softbank Corp., commented: "For Softbank, working with Vodafone is a great opportunity to accelerateinnovation both in terms of new technologies and customer-centric services.Vodafone's size and experience in mobile together with Softbank's convergedmedia and Internet know-how will certainly be a strong combination for drivingindustry-wide change in the fundamental structure of how mobile services aredelivered worldwide." "Following on from the Vodafone KK transaction, Vodafone and Softbank continueto work together in the true spirit of partnership. Together, we see this effortas a means of significantly driving down the cost of supplying best-in-classservices to a very broad base of customers, not only in terms of initial costs,but as we plan to develop more flexible service platforms, this will allow for aricher customer experience at a lower ongoing cost." - ends - For further information: Vodafone Group Investor RelationsTel: +44 (0) 1635 664447 Media RelationsTel: +44 (0) 1635 664444 About Softbank Softbank is one of the leading Japanese Broadband and communications companieswith operations in Broadband, Fixed Line Telecommunications, e-Commerce,Internet, Broadmedia, Technology Services, Media and Marketing and otherservices. Softbank recently completed the acquisition of Vodafone KK(Japan-based mobile operations with more than 15m subscribers previously ownedby Vodafone Group). Softbank is listed on the Tokyo Stock Exchange. Forfurther information, please visit www.softbank.co.jp. About Vodafone Vodafone is the world's leading mobile telecommunications group with equityinterests in 26 countries and 33 partner networks across 5 continents with morethan 165 million proportionate customers worldwide following the disposal ofVodafone KK to Softbank. For further information please visit www.vodafone.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Vodafone