Telecom & Wireless
Sprint (S) Collapses Again As WiMax Patents Challenged
Published:
Last Updated:
Sprint (S) is down sharply today, heading toward penny-stock land. Shares are at $1.70, off their 52-week high of $13.90.
Much of the drop is due to its falling cellular subscriber base which contrasts to gains at rivals Verizon Wireless (VOD)(VZ) and AT&T (T). Sprint’s newest trouble could be just as bad.
Late last week, Adaptix, a WiMax service provider challenged several of the WiMax patents held by Sprint and its partner Clearwire (CLWR). The two companies are in the process of building a nationwide WiMax 4G network. It is safe to say that Sprint is gambling its future on the project’s success. If the network is completed it would allow the cellular service to provide faster wireless internet than its rivals’ current 3G networks giving it an important edge with customers.
According to Bizjournal, Adaptix says that six of its patents are in question. If the claims are valid, the legal action could significantly slow Sprint’s progress in moving to its new system
Douglas A. McIntyre
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
