Recessions hurt.
We’ve previously noted that decision-makers at many of the technology industry’s leading corporations seem to have a lot of faith in WiMAX, specifically in Clearwire’s United States venture. The catch is that the market does not share their optimism.
Intel’s losses after acquiring Clearwire now total $1.1 billion to $1.2 billion – significantly more than the previous estimate of $50 million. Meanwhile, Nokia is pulling the plug on WiMAX-enabled mobile devices designed specifically to work with Clearwire’s networks. At present, it’s a sensible strategy for Nokia, because mass sales of …