SoftBank sees sharp recovery for Sprint, flags much investment for ARM

Japan's SoftBank Group Corp on Thursday flagged a sharp recovery for struggling U.S. unit Sprint and was bullish about long-term prospects for soon-to-be-acquired UK chip designer ARM . The telecoms and internet conglomerate unveiled plans this month to purchase ARM for $32 billion in cash, one of CEO Masayoshi Son's boldest bets yet, as he seeks to be at the forefront of the next wave of digital innovation. "I'm telling ARM management – let's increase the number of engineers, boost R&D spending and make investments proactively," Son told a briefing on SoftBank's first-quarter earnings where it reported flat profits.

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