Printed from http://www.electronista.com

Sprint says it could help Clearwire stay afloat

updated 04:55 pm EST, Tue November 9, 2010

Clearwire to get more funds from Sprint: Hesse

Clearwire's recent money concerns don't mean its existing partners, including Sprint, will stop funding the company, according to a Tuesday report. Sprint Chief Executive Dan Hesse said Clearwire's going concern notice was an accounting technicality as Clearwire has less than 12 months worth of funding left. Clearwire is uncertain it can raise new funds, and has been tied to talks with T-Mobile in recent months.

"That doesn't mean that Sprint and other partners won't continue to fund Clearwire," Hesse said to a gathered crowd at the OpenMobile conference in San Francisco on Tuesday.

Hesse did not go as far as to actually commit moneys to Clearwire, however. Sprint owns 54 percent of Clearwire, and analysts expect Sprint to invest more money into the 4G wireless network provider.

Clearwire last week announced a net loss of $564.6 million and will cut 15 percent of its workforce. It will further delay plans to release its own smartphone and stop development of future retail stores. It said the problems facing the company may mean it will struggle to survive past the middle of next year.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News