Sprint To Invest $5B In WiMAX Network

Sprint Nextel Corp. expects to see $2 to $2.5 billion in revenues from its WiMAX wireless broadband network by 2010, the company announced on Thursday. The number 3 wireless carrier plans to pump $5 billion over the next 3 years into building a WiMAX network. Sprint has partnered with Intel, Samsung, Motorola, and Nokia for the WiMAX initiative, who have promised to produce 50 million devices – ranging from cell phones to laptops – with WiMAX chips. The company has also partnered with Clearwire, which is currently constructing a WiMAX network. Sprint plans to have WiMAX networks covering Chicago, Baltimore, and Washington, D.C. by the end of the year. Company leaders expressed great confidence in WiMAX at its recent Technology Summit conference. Though it is nowhere near ubiquitous, WiMAX signals have miles-long ranges and connection speeds comparable to cable Internet.