May 05, 2010
Clearwire, Sprint to Expand 4G Mobile Broadband Service This Summer
4G coming to
Clearwire to offer CLEAR®
Sprint to offer Sprint 4G
Kirkland, Wash.; Overland Park, Kan. – May 5, 2010 – Clearwire Corporation (NASDAQ: CLWR) and Sprint (NYSE: S) today announced plans to launch their respective 4G mobile Internet services to additional cities in the summer of 2010. Each of the companies will offer 4G under their own 4G brand.
In addition to the 32 markets currently available, the companies plan to launch 4G mobile broadband services this summer in the following cities:
The 4G customer experience from Clearwire and Sprint is unlike any other wireless service available today from any national carrier. Customers in these cities will now be able to increase their mobility and productivity in many ways: from instantly downloading large files to get work done on the run, browsing the web just like at home from across the city, or watching online videos and movies while travelling in the family car around town.
Clearwire and Sprint 4G customers can expect to see wireless service significantly faster than today’s 3G. Clearwire and Sprint customers will also be able to purchase a wide range of 4G devices, including compact USB modems and other wireless devices, all aimed at making lives in these 4G cities more mobile and efficient.
Clearwire’s 4G service is branded CLEAR. CLEAR offers super fast mobile Internet service that works as fast on the go as it does at home. Customers will be able to purchase service online at www.clear.com, at CLEAR retail stores, from national retailers and local authorized dealers. For more information about pricing, services, devices, and local retail locations, visit www.clear.com.
Sprint’s 4G service is branded Sprint 4G. Sprint 3G/4G dual mode products available today combine the dependable nationwide Sprint 3G network with the turbo-charged wireless connectivity of Sprint 4G. With Sprint 4G, streaming video, fast file downloads and uploads and turbo-charged web browsing are no longer just home, office or coffee shop benefits. Sprint 4G plans are available in at Sprint retail stores, Best Buy stores and local retailers in 4G service areas and Sprint telesales at 1-800-Sprint-1 or online at www.sprint.com/4G.
Current 4G Markets
4G mobile broadband service is available today in 32 markets covering 41 million people. Services are offered by Clearwire and Sprint in each market. By the end of 2010, Clearwire’s 4G mobile broadband network is expected to be available to up to 120 million people across the
Clearwire and Sprint also announced today in separate releases the coming launch of service in additional cities across the
Clearwire Corporation (NASDAQ:CLWR), through its operating subsidiaries, is a leading provider of mobile broadband services. Our 4G network is currently available in areas of the
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 48 million customers at the end of the first quarter of 2010 and is widely recognized for developing, engineering and deploying innovative technologies, and the first and only wireless 4G service from a national carrier in the
This release, and other written and oral statements made by Clearwire from time to time, contains forward-looking statements which are based on management's current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Forward-looking statements may include, without limitation, management's expectations regarding future financial and operating performance and financial condition; proposed transactions; network development and market launch plans; strategic plans and objectives; industry conditions; the strength of the balance sheet; and liquidity and financing needs. The words "will," "would," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan" and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to put undue reliance on such forward- looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Clearwire's control, which could cause actual results to differ materially and adversely from such statements. Some factors that could cause actual results to differ are:
· We are an early-stage company with a history of operating losses and we expect to continue to realize significant net losses for the foreseeable future.
· Our current and future plans are subject to a number of conditions and uncertainties, including among others, our ability to manage ongoing market development activities (including the development of over 10,000 sites), our performance in launched markets and our access to additional funding.
· We regularly evaluate our plans, and we may elect to pursue new or alternative strategies which we believe would be beneficial to our business, including among other things, modifying the pace at which we build our 4G mobile broadband networks, augmenting our network coverage in markets we launch, changing our sales and marketing strategy and or acquiring additional spectrum.
· If our business fails to perform as we expect, or if we elect to pursue new plans or strategies, we may be required to raise substantial additional financing, and if we are unable to raise such financing on acceptable terms we may need to modify our plans accordingly.
· We may fail to realize all of the anticipated benefits of the transactions with Sprint and the strategic investors.
· We are committed to using commercially reasonable efforts to deploy wireless broadband networks based solely on mobile WiMAX technology, even if there are alternative technologies available in the future that are technologically superior or more cost effective.
· We currently depend on our commercial partners to develop and deliver the equipment for our legacy and mobile WiMAX networks.
· Many of our competitors are better established and have significantly greater resources, and may subsidize their competitive offerings with other products and services.
· Our substantial indebtedness and restrictive debt covenants could limit our financing options and liquidity position and may limit our ability to grow our business.
· Sprint Nextel Corporation owns a majority of our shares, resulting in Sprint holding a majority voting interest in the Company, and Sprint may have, or may develop in the future, interests that may diverge from other stockholders.
· Future sales of large blocks of our common stock may adversely impact our stock price.
For a more detailed description of the factors that could cause such a difference, please refer to Clearwire's filings with the Securities and Exchange Commission, including the information under the heading "Risk Factors" in our Annual Report on Form 10-K filed on February 24, 2010. Clearwire assumes no obligation to update or supplement such forward-looking statements.
Source: Clearwire Corporation
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National Media and Industry Analysts
JLM Partners for Clearwire