After Sprint announces that they lost another 1 million subs in a quarter, Clearwire reports that it has lost big money as well.
"Clearwire, which would (un)wire America for WiMAX, has now burned through $1.36 billion - and it doesn't have even one paying WiMAX customer." [telecomweb]
- Total revenue up to $51.5M
- a loss of $176.4 million
- Total revenue rose 76 percent to $51.5M
- 48,000 net new subs, ended March with approx. 443K subscribers
- ARPU, rose slightly to $36.86
- Gross margins declined to just 26%
"In separate but related Clearwire bad news, a Sprint Nextel affiliate, iPCS Inc., says three of its subsidiaries have filed documents in an Illinois court to block the Sprint/Clearwire deal, alleging the service would compete with iPCS within its markets and that it violates an exclusivity agreement Sprint signed in 1999."