Clearwire offered details about its partnership with Sprint Nexte...
Clearwire offered details about its partnership with Sprint Nextel in its second quarter earnings report Monday. Clearwire’s WiMAX operating regions will cover about 75 percent of the United States land mass and 40 percent of the population, the company…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
said Monday. The area includes “central and northern California, the Pacific Northwest, the Rocky Mountain region, portions of the midwest, most of the south, Alaska, Hawaii and portions of New York, Pennsylvania and Texas,” Clearwire said. Sprint Nextel will take responsibility for the rest of the country, it said. Clearwire expects to transfer subscribers and assets in three of its operating markets in the eastern United States to Sprint, as well as assets in several markets near completion or under development, it said. Sprint is expected to also transfer several markets to Clearwire, the smaller company said. As a result, Clearwire expects to cover 13 to 15 million people by year end, down from the 16 to 18 million it had expected before the Sprint deal. Clearwire still expects to end the year with 375,000 to 400,000 subscribers total, it said. Subscriber additions more than doubled in the second quarter, doubling revenue but increases the loss, Clearwire said. Clearwire added 41,000 subscribers, up 130 percent from last year, and Clearwire saw $35.5 million in consolidated service revenue, up from $15.4 million last year. But $145.8 million in infrastructure investment and subscriber acquisition costs drove losses to $70.2 million, up from $45.9 million in 2006.