ABI: Talk Of WiMax Misfortunes Exaggerated
4,500% WiMax Subscriber Revenue Growth In 2009
ABI Research apparently believes that the talk of WiMax's misfortunes
have been greatly exaggerated. In a new report
, the firm claims that WiMAX subscriber revenue will grow by 4,500+% globally in 2009; the firm seemingly responding to an Infonetics Research
report by noting that Alcatel-Lucent and Nortel are very much still involved in the market. WiMax should get a good public relations boost later today -- we're hearing that Clearwire should have several major announcements to make on a conference call today with analysts and investors.
Re: Whats the late breaking WiiMax news? I was expecting fireworks 5 more cities added to their list of 2
Losses mounting, Clearwire to expand in Chicago, other cities
By John Cook on March 5, 2009 at 1:13 PST
Clearwire plans to deploy its broadband wireless service in Las Vegas, Atlanta, Chicago, Philadelphia and Dallas later this year, with plans to roll it out in New York, San Francisco, Boston, Houston and Washington D.C. next year.
The Kirkland company also announced two new products to help customers access wireless networks as they travel between cities of neighborhoods. Later this month, Clearwire said it will introduce a "personal hot spot" device that helps customers access the Internet on both WiMax and Wi-Fi networks.
This summer it also is introducing a new 3G/4G modem that will allow customers to seamlessly switch between Clearwire's WiMax networks and Sprint's 3G network. The announcements come on top of the company's year-end results, which showed a massive loss of $432 million in 2008. That compares to a loss of $224 million in 2007.
The company posted pro forma revenue of $230 million, up 52 percent over the prior year. For the fourth quarter, the company said that revenue grew by 32 percent to $59.7 million. Its subscriber base also increased, with the company now counting 475,000 customers.
In this difficult economic climate, our objective is to continue to balance the prudent use of our significant financial resources with our desire to take full advantage of the market opportunity that is in front of us, and we intend to do just that," said CEO Ben Wolff in a release. "This means retaining the flexibility to accelerate or decelerate our expansion based on our own successes and the macro economic environment."
Clearwire, which raised more than $3 billion last year from Intel, Comcast, Google and others, finished the year with $3.1 billion in cash.