Friday, October 7, 2011
Sprint says it will stop selling phones and other devices compatible with Clearwire's network at the end of next year, as it switches customers over to its own fourth-generation data network.
Sprint's president of network operations, Steve Elfman, told investors and analysts Friday at a meeting in New York that the company is already building its own 4G data network and will inaugurate it next summer.
Currently, phones with "Sprint 4G" use Clearwire's network. Sprint owns a majority of that company but doesn't own it outright.
Clearwire shares were in free fall after Sprint's announcement. In morning trading, they were down 21 cents, or 10 percent, at $1.84.