Clearwire performs slightly better in Q4 than most analysts thought
Remember Clearwire? You know, the company that only half-way built out Sprint's 4G network and almost went bankrupt? Well, as it turns out, they had a slightly better fourth quarter in 2011 than most analysts expected.
Clearwire's Q4 revenue came in at just over $362 million, which was slightly higher than what many expected. This was partly due to lower operating costs and increased smartphone usage. However, the bad news is that Clearwire is still relying on handouts from Sprint to continue its operations, and it's still looking for investors to cover about $300 million of its present debt so it can continue with its planned LTE rollout.
In any case, it's definitely good news for EVO-owners that Clearwire had a somewhat decent quarter – that ensures that it will have the funds necessary to maintain the present WiMAX network, but only if you're already lucky enough to have decent coverage. On the other hand, I'm glad that Sprint has decided to take matters into their own hands, not totally relying on another company for the new LTE build-out. Clearwire was a costly mistake, but at least it allowed Sprint bragging rights for the first 4G smartphone.
[Engadget]
