NEW You are able to (AP) -- Sprint Nextel Corp. stated Friday that it'll stop selling phones along with other products suitable for Clearwire Corp.'s network in the finish of the coming year, because it switches clients to the own greater-speed, 4th-generation data network.
Sprint is Clearwire's biggest customer and majority owner, but does not manage it. Phones labeled "Sprint 4G" use Clearwire's network today.
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Clearwire's stock fell 30 cents, or 15 %, to $1.75 in morning buying and selling Friday. The shares hit a 52-week low of $1.32 in August. Sprint's stock rose 25 cents, or 8.3 %, to $3.26.
Sprint's leader of network procedures, Steve Elfman, told traders and experts in a meeting in New You are able to that the organization has already been building its 4th-generation, or 4G, data network and can inaugurate it next summer time. Through the finish of 2012, it'll cover as numerous people as Clearwire's network does today, along with a year later, it will likely be far bigger.
Sprint is applying a 4G technology referred to as LTE, for Lengthy-Term Evolution. Rivals AT&T Corporation. and Verizon Wireless Carrier are utilizing the same technology. Clearwire, however, uses an early on technology known as WiMax. Which means present day "Sprint 4G" products will have to be changed to make use of the brand new LTE network.
Sprint, together with AT&T and Verizon, began taking pre-orders for that apple iphone 4S on Friday. It's the very first time the battling company continues to be in a position to sell the coveted smartphone. The network update can help the organization support its apple iphone customers with wireless data, Sprint professionals stated. However, present day apple iphones may use neither Clearwire's 4G network nor Sprint's coming one.
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