Clearwire the industry darling again2009-12-04 09:44 by DanielaTags: Clearwire, WiMAX
Clearwire gets some more funds and suddenly it's the industry darling again. Last month the mobile WiMAX operator received $1.56 billion from investors including Sprint Nextel and sold more than $2 billion in debt to help fill a funding gap that was a glaring hole in analysts' eyes. And they questioned whether the company could get more money in this economic climate and therefore the operator would fall short of its goal of covering 120 million people by 2010. This week, investors are driving Clearwire's stock price up. UBS upgraded its rating from a sell to neutral. And Clearwire says it now has the funds that will enable it to expand its coverage faster, beyond the 120 million people next year. But another glaring hole remains, and that is the lack of compelling WiMAX devices. Clearwire CEO Bill Morrow said in an interview with mocoNews that the operator will add WiMAX-capable smartphones in the second half of next year. "I wouldn't count on it by summer, but before Christmas," he said. Read more -here-
Post your review/comments
rate:
avg:
|