Arne Sorenson, who has led the company since 2012, said that in most of the company's markets, the business was running 75 per cent below normal levels.
With Vision Fund II in sight, Softbank's portfolio companies in India and across the world are cutting jobs in order to reduce losses and shore up investor sentiment.
Nobody really knows what Project Titan is, and it seems not even Apple really knows following a decision to lay off over 200 employees working on the project.
