Clearwire (CLWR) CEO Hints at Looking Beyond Sprint, Says LightSquared Doesn't 'Feel Real' (T) (VZ)
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The Chief Executive Officer of Clearwire (Nasdaq: CLWR), Eric Prusch, reported that the company is currently “talking to everybody” about providing its wireless capacity with its planned 4G LTE network.
Prusch did not mention any names in particular, but when asked about Verizon (NYSE: VZ) and AT&T (NYSE: T) he noted that they are talking to everyone.
Clearwire’s version of LTE is called TDD-LTE and requires a dual-band chip to be compatible with the networks ran by Verizon and AT&T. The TDD-LTE has already been accepted by a number of China, Japan, and India including China Mobile (NYSE: CHL). The CEO highlighted that it would be relatively inexpensive for Verizon and AT&T to incorporate the new chip in its devices.
A company named LightSquared is doing relatively the same thing as Clearwire is, but Prusch states that, “"LightSquared doesn't feel real,” and that “We're real. We're now. And we have a network."
Clearwire at this time is trying to raise equity in the range of $150 million to $300 million for network operations, along with another $600 million to upgrade the network to LTE. Tech news reporter CNET forecasts that it will take roughly one year to finish the network after financing has been obtained. The method in which the company will use to receive the funds has not been announced and Prusch declined to comment on the manner.
Mr. Prusch doesn’t feel that if Sprint (NYSE: S) began selling the iPhone it would hinder the demand for 4G.
Shares of CLWR are trading up roughly 8 percent on a day when the market is trading down around 4 percent. The stock was halted by a circuit breaker following the initial headline.
Prusch did not mention any names in particular, but when asked about Verizon (NYSE: VZ) and AT&T (NYSE: T) he noted that they are talking to everyone.
Clearwire’s version of LTE is called TDD-LTE and requires a dual-band chip to be compatible with the networks ran by Verizon and AT&T. The TDD-LTE has already been accepted by a number of China, Japan, and India including China Mobile (NYSE: CHL). The CEO highlighted that it would be relatively inexpensive for Verizon and AT&T to incorporate the new chip in its devices.
A company named LightSquared is doing relatively the same thing as Clearwire is, but Prusch states that, “"LightSquared doesn't feel real,” and that “We're real. We're now. And we have a network."
Clearwire at this time is trying to raise equity in the range of $150 million to $300 million for network operations, along with another $600 million to upgrade the network to LTE. Tech news reporter CNET forecasts that it will take roughly one year to finish the network after financing has been obtained. The method in which the company will use to receive the funds has not been announced and Prusch declined to comment on the manner.
Mr. Prusch doesn’t feel that if Sprint (NYSE: S) began selling the iPhone it would hinder the demand for 4G.
Shares of CLWR are trading up roughly 8 percent on a day when the market is trading down around 4 percent. The stock was halted by a circuit breaker following the initial headline.
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