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Press Release -- July 25th, 2011
Source: Clearwire
Tags: Equipment, Exchange, Video

Clearwire Introduces New CLEAR Spot 4G For More Ways to Connect to CLEAR 4G Service

CLEAR's Uncapped Mobile Broadband Experience Available For Netbooks, Notebooks, Gaming, Entertainment, Social Media, and Numerous Other Devices and Services

KIRKLAND, Wash., July 25, 2011 (GLOBE NEWSWIRE) -- Clearwire® (NASDAQ:CLWR, news, filings), a leading provider of wireless broadband services, today announced the upcoming availability of a the CLEAR Spot® 4G - Apollo, a new personal hotspot that offers super-fast speeds, unlimited** 4G usage plans, and compatibility with millions of mobile devices. Clearwire helped pioneer the adoption of the 4G personal hotspot category with the launch of its first CLEAR Spot in early 2009.

The CLEAR Spot 4G - Apollo brings 4G connectivity possibilities to a wide range of Wi-Fi-enabled laptops, netbooks, smartphones, and other connected devices - without the worries or hassles of tiered or capped usage plans. The CLEAR Spot 4G offers the speed and flexibility of a personal Wi-Fi hotspot and can simultaneously connect up to eight Wi-Fi devices at 4G speeds.

"With our new CLEAR Spot 4G - Apollo, surfing, streaming, gaming and entertaining are all possible this summer in over 70 markets coast to coast," said Dow Draper, senior vice president of marketing and products for Clearwire. "This device is the ultimate Internet surfing machine and offers today's mobile user, and the millions of Wi-Fi products in use across the country, even greater access to CLEAR's super-fast and affordable 4G Internet service."

With CLEAR® super-fast mobile Internet service, users can experience average mobile download speeds of 3 to 6 mbps with bursts up to 10 mbps*, using Clearwire's 4G network. 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. In most markets, unlimited** 4G coverage from CLEAR starts at $35/mo.*** for the home, while unlimited** mobile plans start as low as $45/mo.***. Bundled services such as Home and On-The-Go plans and Home and Voice plans start at $55 per month***. 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

The CLEAR Spot 4G 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 laptops, smartphones, and portable gaming devices. The CLEAR Spot 4G - Apollo is manufactured by Gemtek and costs $99 (plus tax) or can be leased for $6 per month (plus tax). The device is 3.4" square, weighs less than five ounces, and runs on a rechargeable battery that provides up to six hours of continuous use.**** The CLEAR Spot 4G - Apollo will be available for purchase from select retail stores and dealers, as well as online at www.clear.com/devices/details/id/105 beginning in late July.

For more information about CLEAR, visit www.clear.com. Company information about Clearwire is available at www.clearwire.com.

For press and broadcast: Product images, video footage and company logos can be downloaded from the Clearwire Newsroom. To subscribe to Clearwire's RSS news feed, click here.

About Clearwire

Clearwire Corporation (NASDAQ: CLWR), through its operating subsidiaries, is a leading provider of wireless broadband services. Clearwire's 4G network is currently available in areas of the U.S. where 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. Clearwire 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 and Best Buy. Strategic investors include Intel Capital, Comcast, Sprint, Google, Time Warner Cable, and Bright House Networks. Clearwire is headquartered in Kirkland, Wash. Additional information is available at www.clearwire.com.

* Actual CLEAR network performance may vary and is not guaranteed. CLEAR performance claim is based on average download speeds achieved during tests performed by CLEAR on the CLEAR commercial network.

** Unlimited plans subject to CLEAR's Acceptable Use Policy, posted at www.clear.com/legal/aup.

*** Taxes, equipment and other charges apply.

**** Actual battery life that user experiences between charges may vary and is not guaranteed.

Clearwire, CLEAR, and the CLEAR logo are trademarks or registered trademarks of Clearwire Communications LLC.

Forward-Looking Statements

This release, and other written and oral statements made by Clearwire from time to time, contains 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, we may require substantial additional capital, which may not be available on acceptable terms or at all, to be able to continue to operate.
  • Our current plans, and our expectations about becoming EBITDA and cash flow positive, 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.
  • We expect that our business will 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 agreements with additional wholesale partners our business prospects, results of operations, and financial condition could be adversely affected, or we could be required to revise our current business plans.
  • 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 have deployed a wireless broadband network based on mobile WiMAX technology, may need to deploy other 4G technologies such as LTE to remain competitive, and would incur significant costs to deploy alternative technologies. Additionally, such alternative technologies 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 transition from the current technology to the new technology without disruptions to customer service.
  • We may experience difficulties in maintaining and upgrading our networks, which could adversely affect customer satisfaction, increase subscriber churn and costs incurred, and decrease our revenues.
  • We currently depend on our commercial partners to develop and deliver the equipment for our legacy and mobile WiMAX networks.
  • Many of our competitors 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 Nextel Corporation owns a majority of our shares, resulting in Sprint holding a 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 Quarterly Report on Form 10-Q filed on May 4, 2011. Clearwire assumes no obligation to update or supplement such forward-looking statements.

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A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=10041

CONTACT: National Media and Industry Analysts - JLM Partners for Clearwire

         Mike DiGioia

         206-819-9032 (mobile)

         206-381-3600 (office)

         mike@jlmpartners.com

         Local Eastern Region Media Contact

         Chris Comes

         312-282-0539 (mobile)

         847-993-9661 (office)

         christopher.comes@clearwire.com

         Local Western Region Media Contact

         Debra Havins

         303-210-7269 (mobile)

         debra.havins@clearwire.com

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