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Clearwire Introduces New CLEAR Stick Atlas(March 08, 2012)
BELLEVUE, Wash., March 8, 2012 (GLOBE NEWSWIRE) -- Clearwire (NASDAQ: CLWR), a leading provider of wireless broadband services, today announced the availability of the CLEAR® Stick Atlas, a new mobile broadband USB device that offers super-fast speeds, unlimited* 4G usage plans, and is the first in the U.S. to offer instant connectivity without the need for additional software. The CLEAR product portfolio now offers several devices to fit different consumer needs with three new devices launched over the past five weeks.
The CLEAR Stick Atlas connects almost any computer or device with a standard USB port to 4G mobile broadband in cities with CLEAR coverage. Unlike other 4G USB devices, the CLEAR Stick Atlas does not require connection manager software to function. Users simply plug in the device and go. With a compact form factor and weight of just 1.1 ounces, the device easily fits into a pocket or purse.
"Clearwire continues its strong momentum in 2012 of offering breakthrough products in the 4G mobile broadband category and raises the bar for today’s mobile consumers," said Dow Draper, senior vice president and general manager - CLEAR. "With the CLEAR Stick Atlas, getting connected to unlimited 4G couldn’t be easier - no programs to open or software to download - just plug it in and surf on any capable Windows, Mac, Linux, Chrome or Android-based device."
Unlike service plans from traditional wireless carriers which either cap data usage or charge overage fees for exceeding certain data levels over a given period, CLEAR offers unlimited* 4G usage plans that do not require long-term service contracts. CLEAR offers unlimited* 4G coverage starting as low as $34.99/mo.** for either a home or mobile plan. CLEAR service is currently available in areas of the United States where approximately 130 million people live. A detailed map of service availability can be found at www.clear.com/coverage.
The New CLEAR Mobile USB Device
The CLEAR Stick Atlas is manufactured by Ubee Interactive and currently carries a Manufacturer’s Suggested Retail Price of $49.99 (plus tax and shipping). The device is 1.2 inches wide by 3.25 inches high with a 0.65 inch diameter, weighing only 1.1 ounces. The color is charcoal grey with a matte finish, and includes an LED light showing signal strength and connection status. The device supports most operating systems, including: Windows® 7, Windows Vista®, Windows® XP, Mac® OSX, Linux, Android™ and Chrome. The CLEAR Stick Atlas is currently available online at www.clear.com.
Clearwire Corporation (NASDAQ:CLWR), through its operating subsidiaries, is a leading provider of 4G wireless broadband services covering more than 130 million people in the U.S. The company holds the deepest portfolio of wireless spectrum available for data services in the U.S. Clearwire serves retail customers through its own CLEAR® brand as well as through wholesale relationships with some of the leading companies in the retail, technology, and telecommunications industries. Strategic investors include Intel Capital, Comcast, Sprint, Time Warner Cable, and Bright House Networks. The company plans to launch a next-generation 4G LTE Advanced-ready network to address the capacity needs of the market, working closely with the Global TDD-LTE Initiative and China Mobile. Clearwire is headquartered in Bellevue, Wash. Additional information is available at http://www.clearwire.com.
** Taxes, device purchase, and other charges apply.
Clearwire, CLEAR, and the CLEAR logo are trademarks or registered trademarks of Clearwire Communications LLC. Windows and Windows Vista are registered trademarks of Microsoft Corporation. Mac is a registered trademark of Apple Inc. Android is a trademark of Google Inc.
This release, and other written and oral statements made by Clearwire from time to time, contain forward-looking statements which are based on management's current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Forward-looking statements may include, without limitation, management's expectations regarding future financial and operating performance and financial condition; proposed transactions; network development and market launch plans; strategic plans and objectives; industry conditions; the strength of the balance sheet; and liquidity and financing needs. The words "will," "would," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan" and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to put undue reliance on such forward- looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Clearwire's control, which could cause actual results to differ materially and adversely from such statements. Some factors that could cause actual results to differ are:
We have a history of operating losses, and we expect to continue to realize significant net losses for the foreseeable future.
If our business fails to perform as we expect or if we incur unforeseen expenses in the near term, we may require additional capital to fund our current business. Also, we will need substantial additional capital over the and long-term. Such additional capital may not be available on acceptable terms or at all. If we fail to obtain additional capital, our business prospects, financial condition and results of operations will likely be materially and adversely affected, and we will be forced to consider all available alternatives.
Our current plans and projections are based on a number of assumptions about our future performance, which may prove to be inaccurate, such as our ability to substantially expand our wholesale business and the expected timing and costs of deploying LTE on our wireless broadband network.
Our business has become increasingly dependent on our wholesale partners, and Sprint in particular. If we do not receive the amount of revenues we expect from existing wholesale partners or if we are unable to enter into new agreements with additional wholesale partners for significant new wholesale commitments, our business prospects, results of operations, and financial condition could be adversely affected, or we could be forced to consider all available alternatives.
We regularly evaluate our plans, and we may elect to pursue new or alternative strategies which we believe would be beneficial to our business, including among other things, expanding our network coverage to new markets, augmenting our network coverage in existing markets, changing our sales and marketing strategy, and/or acquiring additional spectrum. Such modifications to our plans could significantly change our capital requirements.
We plan to deploy LTE on our wireless broadband network, alongside mobile WiMAX, and we will incur significant costs to deploy such technology. Additionally, LTE technology, or other alternative technologies that we may consider, may not perform as we expect on our network, and deploying such technologies could result in additional risks to the company, including uncertainty regarding our ability to successfully add a new technology to our current network and to operate dual technology networks without disruptions to customer service, as well as our ability to generate new wholesale customers for the new network.
We currently depend on our commercial partners to develop and deliver the equipment for our legacy and mobile WiMAX networks, and will be dependent on commercial partners to deliver equipment and devices for our planned LTE network as well.
Many of our competitors for our retail business are better established and have significantly greater resources, and may subsidize their competitive offerings with other products and services.
Our substantial indebtedness and restrictive debt covenants could limit our financing options and liquidity position and may limit our ability to grow our business.
Sprint owns just less than a majority of our common shares, is our largest shareholder, and has the contractual ability to obtain enough shares to hold the majority voting interest in the company, and Sprint may have, or may develop in the future, interests that may diverge from other stockholders.
Future sales of large blocks of our common stock may adversely impact our stock price.
For a more detailed description of the factors that could cause such a difference, please refer to Clearwire's filings with the Securities and Exchange Commission, including the information under the heading "Risk Factors" in our Annual Report on Form 10-K filed on February 16, 2012 and in our recent Form 10-Q filings. Clearwire assumes no obligation to update or supplement such forward-looking statements.
A photo accompanying this release is available at:
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