Japan's KDDI to sell new iPhone in Japan

Apple confirmed Wednesday that Japan's second largest mobile carrier KDDI would sell its latest iPhone in the country, ending rival Softbank's exclusive hold on the popular smartphone. Apple, which unveiled an updated version of the iPhone 4 in the United States on Tuesday, said on its Japanese unit's website that KDDI phone stores as well as Softbank outlets will start selling the new model on October 14. It is the same launch day for the United States, Australia, Canada, France, Germany, and Britain. Softbank, Japan's third-largest mobile carrier by subscribers, has enjoyed a monopoly on the hugely popular iPhone and iPad as Apple's only carrier in Japan since the popular phone was released in the country in 2008. Softbank shares were down 0.33 percent to trade at 2,412 yen Wednesday morning. The price was still up from their close of 2,282 yen on September 22 when they dived more than 12 percent after a press report that KDDI has snagged the rights to sell Apple's new iPhone. KDDI shares lost 0.71 percent to 554,000 yen against 624,000 on September 22. Apple shares slipped on Wall Street Tuesday as it unveiled the new iPhone 4 but not the transformative new model many had been expecting. The iPhone 4S features a speedier processor, a built-in "personal assistant" that responds to voice commands and a more powerful camera, but it was not the revamped next-generation iPhone 5 many Apple fans had hoped for.