Apple pressures Softbank to cancel investment in Andrews's parent company

[Global Scientific Reporter Li Zongze] According to a report from the Wall Street Journal on March 21, according to informed sources, Softbank Group has cancelled 100 million U.S. dollars for a smartphone startup founded by Google Android software designers. The investment plan is partly due to the increasingly close relationship between the Japanese company and Apple.

The picture shows the father of Android Andy Rubin

The person familiar with the matter said that the planned investment initiative originally valued start-up company Essential Products Inc. at US$1 billion. The company has not sold any products in the most competitive smartphone industry in the technology industry, and its $100 million investment plan is too expensive. The investment intention is based on the founder of Essential Andy Rubin, who sold his startup company Android to Google Inc. of Alphabet Inc. in 2005, helping Google to make the software the world’s most used smart phone operating system. Created a series of devices that compete with the Apple iPhone.

The above plan to cancel investment has given the outside world a glimpse into the unpredictable investment style of Softbank’s Chief Executive Sun Yizheng. Sun Zhiyi's investment in US$100 billion to establish Vision Fund, a technology-focused initiative, is bound to increase his position as the most powerful investor in technology. According to an informed source, the huge Vision Fund can be established as soon as this month.

According to an informed source, the Vision Fund, which is planned to invest in large technology companies and start-ups, will have priority in rejecting all Softbank transactions of at least US$100 million.

Informed sources said that from the perspective of Rubin, the above-mentioned investment transaction is nearing completion, and the last few steps away from the normal signing of risk investment transactions. According to a person familiar with the matter, Sun Justice reviewed the deal again after Apple decided to invest in its Vision Fund and decided to cancel the investment so as not to go too far with an Apple competitor.

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