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Sprint Telecom News / Sprint Phone Card News
Sprint Nextel Cancels WiMAX Partnership with Clearwire

Date: 11/16/2007 10:40:15 PM

American mobile phone carrier, Sprint Nextel, has scrapped plans to partner with wireless broadband startup, Clearwire, on a nationwide WiMAX network.

The partnership was reversed after Sprint decided to dismiss its CEO, Gary Forsee, last month. The collapse of this partnership is being seen as a major blow to Clearwire, whose stock price dropped more than 25% yesterday, to close at $13.49 on the NASDAQ.

Clearwire’s losses have swelled significantly for the past three years, and its thirdquarter sales totaled just $41.3 million, or less than one hundredth of Sprint’s.

“The Sprint deal was really good for Clearwire, and it’s bad that they lost that,” commented Jefferies & Co. analyst, Jonathan Schildkraut. “Clearwire will have to shoulder a bigger burden to get broader network coverage.”
 

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Source: http://www.teleclick.ca/2007/11/sprintnextelcancelswimaxpartnershipwithclearwire/


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