SoftBank cancels $100mn funding in Android founder's startup
Japanese conglomerate SoftBank has backed out of a deal to invest $100 million in Android Co-founder Andy Rubin's smartphone startup named 'Essential'. The startup was reportedly working on a smartphone to compete with Apple's iPhone 7. The fall-off of the deal comes after Apple committed to invest $1 billion in SoftBank's $100 billion fund in January this year.