According to Engadget, the companies that will help Sprint (S) launch its WiMax network for cell phones are banding together to show support for the troubled phone company.
Samsung, Motorola (MOT), Intel (INTC), and Nokia (NOK) are all sharing a booth at this week’s 3GSM conference and Samsung is showing off its new mobile WiMax phones.
Actually, all of the companies have skin in the game and it is to their advantage to band together in public support of WiMax. The Sprint network could cover an area in the US that would server 100 million potential customers. That is a lot of business for Sprint’s partners.
Sprint has been plagued by operational difficulties, so the WiMax deployment may be its last, best hope for raising its stock price and staying independent. Its shares traded near $27 last April but are down to under $18 now.
A friend in need is a friend indeed.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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