Clearwire Unveils New CLEAR Spot Voyager and CLEAR Hub Express Modem/Wireless Router for More Ways to Connect to CLEAR 4G Service
Bellevue, Wash., Jan. 30, 2012 (GLOBE NEWSWIRE) -- Clearwire (NASDAQ: CLWR), a leading provider of wireless broadband services, today announced the availability of the CLEAR Spot® Voyager, a new personal hotspot that offers super-fast speeds, unlimited* 4G usage plans, and compatibility with millions of mobile devices. The company also announced the availability of the CLEAR Hub Express, a combination 4G modem and wireless router to give your home or office high-speed wireless internet.
The CLEAR Spot Voyager gives users everything they need to create a personal hotspot for up to eight wi-fi-enabled devices, at the same time. The CLEAR Spot Voyager offers consumers a battery life greater than six hours*** and a compact form factor at 2.6 inches square. The CLEAR Hub Express provides users 4G internet and is the only piece of equipment needed to set up a 4G internet hotspot in a home or office. With the device's built-in wireless router, users have an instant wi-fi network with no set-up or installation required.
"Clearwire has been a leader in the adoption of the 4G personal hotspot and fixed modem categories since our first product launches in early 2009. We continue to set the pace in the industry by offering innovative products that deliver high-speed 4G Internet service that is easy to set up and affordable," said Dow Draper, senior vice president and general manager - CLEAR. "These devices offer today's mobile and home users, and the millions of wi-fi products in use across the country, even broader access to CLEAR's 4G take-it-with-you internet."
Unlike service plans from traditional wireless carriers which cap data usage, 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 Hotspot and CLEAR Modem/Wireless Router
The CLEAR Spot Voyager is a personal mobile hotspot allowing users to easily and securely share unlimited* super-fast Internet access, anywhere CLEAR has coverage, simultaneously with up to eight wi-fi-enabled devices, including the iPad®, iPhone®, iPod® touch, laptops, smartphones, and portable gaming devices. The CLEAR Spot Voyager is manufactured by Infomark and costs $124.99 (plus tax and shipping). The device is 2.6" square, weighs only 2.1 ounces, and runs on a rechargeable battery that provides up to six hours of continuous use.*** The CLEAR Hub Express is a modem and wireless router in one, supporting wi-fi-enabled devices with coverage up to 150 feet away. The CLEAR Hub Express is manufactured by Gemtek, costs $99.99 (plus tax and shipping) and is 6.1" x 9.3" x 3.7". The CLEAR Spot Voyager and CLEAR Hub Express both currently are available online at www.clear.com.
Clearwire Corporation (NASDAQ: CLWR), through its operating subsidiaries, is a leading provider of wireless broadband services. Clearwire's 4G network currently provides coverage in areas of the U.S. where more than 130 million people live. Clearwire's open all-IP network, combined with significant spectrum holdings, provides an unprecedented combination of speed and mobility to deliver next-generation broadband access. The company markets its 4G service through its own brand called CLEAR®, as well as through its wholesale relationships with companies such as Sprint, Comcast, Time Warner Cable, Locus Telecommunications, Cbeyond, Mitel, Simplexity, United Online and Best Buy. Strategic investors include Intel Capital, Comcast, Sprint, Google, Time Warner Cable, and Bright House Networks. Clearwire is headquartered in Bellevue, Wash. Additional information is available at www.clearwire.com.
** Taxes, equipment and other charges apply.
*** Actual battery life that user experiences between charges may vary and is not guaranteed.
Clearwire, CLEAR, the CLEAR logo, and CLEAR Spot are trademarks or registered trademarks of Clearwire Communications LLC. iPad, iPhone and iPod touch are registered trademarks of Apple 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 will require additional capital to fund our current business. Also, we will need substantial additional capital over the intermediate 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 implement various cost savings initiatives.
- 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 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 believe we will need to deploy LTE on our wireless broadband network, alongside mobile WiMAX, to be able to continue to operate in the long term. We will incur significant costs to deploy such technology, and we will need to raise substantial additional capital to cover such costs. Additionally, LTE technology, or other alternative technologies that we may consider, may not perform as we expect on our network, and deploying such technologies would 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.
- 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 22, 2011 and subsequent Form 10-Q filings. Clearwire assumes no obligation to update or supplement such forward-looking statements.
A photo accompanying this release is available at: