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

Crucial MX100 256GB SATA-3 SSD

While the price to gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for a ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News