Sprint To Launch 4-G Phone (S, CLWR)
Sprint Nextel (NYSE: S) is planning to launch a state of the art telephone that will work on a faster wireless network. The phone has been named the Supersonic. The phone will be produced by HTC Corp. Sprint (S) is currently trying to retain its dwindling customer base. The telecom company has lost nine million customers in the last three years.
However, Sprint holds a trump card in the form of the 4-G network. Sprint is the only telecom firm in US with access to fourth generation services. The network is being built by Clearwire Corp. (NASDAQ: CLWR). Sprint holds a 56% stake in the firm. Sprint has recently injected $1.18 billion worth of new capital into Clearwire (CLWR). The 4-G network is likely to attract heavy users of the mobile internet.
