Jiji Press TOKYO (Jiji Press) — Plus One Marketing Ltd., the supplier of handsets for Freetel-brand low-cost smartphone service, filed for bankruptcy protection on Monday, leaving liabilities of about ¥2.6 billion.
The filing was made with Tokyo District Court, Plus One said.
The company, established in 2012, sold its mobile service operations on a major carrier’s network to internet services company Rakuten Inc. on Nov. 1.
Plus One is believed to have suffered an outflow of customers after the Consumer Affairs Agency in April found its advertising copy claim to offer the fastest communications speed in the industry could not be justified.
The company was also facing financing difficulties amid intensifying competition in the sector, with major operators starting to launch budget smartphone services.