
Available Jan. 10 exclusively from Sprint, Overdrive is the nation’s first 3G/4G Mobile Hotspot, allowing multiple Wi-Fi-enabled devices to share a connection to Sprint’s 4G network
OVERLAND PARK, Kan., Jan 06, 2010 (BUSINESS WIRE) — Sprint (NYSE:S) announced today the upcoming availability of Overdrive(TM) 3G/4G Mobile Hotspot by Sierra Wireless. Overdrive allows you to connect up to five Wi-Fi-enabled devices simultaneously–including laptops, gaming devices, cameras and even smartphones from other carriers–through a single connection (via Wi-Fi), to a network that is up to 10 times faster than today’s 3G speeds from any national wireless carrier.1 There’s no need to wait for 4G devices to enjoy the benefits of 4G: Overdrive creates a connection between the Sprint 4G network and virtually all of the hundreds of millions of Wi-Fi-enabled electronics devices owned by or available to customers today. “This device delivers the connected lifestyle to our customers in overdrive,” said Dan Hesse, Sprint CEO. “The fact that it connects up to five Wi-Fi-enabled devices is especially meaningful because at 4G speeds, customers can download and upload more data–gigabytes, not megabytes–in a matter of seconds. The Overdrive on the 4G network is made for the multitude of bandwidth-hungry applications customers want to access wirelessly, like video streaming. 4G beats 3G for speed and for value.”
The new company, which will be named Clearwire, will be focused on expediting the deployment of the first nationwide high-speed mobile WiMAX network.
Intel Corp. (INTC), Google Inc. (GOOG), Comcast Corp. (CMCSK), Time Warner Cable Inc. (TWC) and Bright House Networks will collectively invest $3.2 billion in the new company, based on a target price of $20 a share of Clearwire's common stock, subject to a post-closing adjustment."
Hesse was reluctant to talk about WiMax too much and give the analysts the impression that he wasn’t 100 percent on turning around the company’s core wireless-phone business, however, he still let a few tidbits slip. He said the company’s soft WiMax launches in Baltimore, Washington DC and Chicago are encouraging, and that he feels Sprint can’t pass up being first to roll-out 4G. “Sprint has an enormous asset—nearly 100 megahertz of un-utilized spectrum—and we have the opportunity to have a three-year head start with our Xohm service, true wireless broadband with multi-megabit speed,” he said.
Later this year, he said they’ll introduce dual-mode CDMA/WiMAX devices, which they’ll probably need if if too many people sign-up for the company’s new unlimited data plan and start clogging the networks.
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