-- Memorandum of Understanding Lays Foundation for TD-LTE Roaming Between
China and U.S.
-- Companies Continue to Build on Strong TD-LTE Working Relationship
HONG KONG and BELLEVUE, Wash., July 18, 2012 (GLOBE NEWSWIRE) -- China
Mobile International Limited, a subsidiary of China Mobile, the world's
largest mobile telecommunications company in terms of subscribers, and
Clearwire (Nasdaq:CLWR), a leading provider of wireless broadband
services, today announced that the two companies have signed a
non-binding memorandum of understanding (MOU) that lays the foundation
for international roaming between China and the United States using
Under the MOU, China Mobile International Limited and Clearwire plan to
collaborate on business and technical aspects of their respective
operations to define and institute the process necessary to support
international roaming and to ensure the operators' systems and devices
are able to support roaming. The companies also expect this agreement
to serve as a blueprint for future roaming agreements with other
members of the Global TD-LTE Initiative (GTI) of which China Mobile and
Clearwire are founding members.
"We recently demonstrated the roaming capability between Hong Kong FDD
LTE and Hang Zhou TD-LTE. With the commercial launches of TD-LTE
networks in major markets, these networks shall enable international
roaming to create a ubiquitous user experience and a unified market,"
said Dr. Tiger Lin, Chairman of China Mobile International. "Our goal
is to make a converged LTE TDD/FDD market in which our subscribers roam
between a TD-LTE network and a LTE FDD network at affordable cost and
enjoy the benefit of LTE service globally."
"Today's new agreement with China Mobile will add substantial momentum
to our own LTE network deployment and to the development of the TD-LTE
ecosystem around the world," said Dr. John Saw, Senior Vice President
and Chief Technology Officer for Clearwire. "The global nature of the
TD-LTE ecosystem and interoperability will be an important achievement
for both companies. We are pleased that our position as a leading 4G
operator has allowed us to develop a strong working relationship with a
key global counterpart like China Mobile."
China Mobile and Clearwire are developing TD-LTE networks in their
respective domestic markets. Through mutual collaboration, the
companies will provide their customers with 4G roaming capability and
help 4G services to follow the same global pattern towards
international accessibility as other wireless technology. The companies
expect the spectrum in the 2.3GHz to 2.7GHz range which will be used in
their TD-LTE network deployment will make up one of the most widely
deployed 4G configurations in the world.
About China Mobile International Limited
China Mobile International Limited (CMI) is a wholly owned subsidiary
of China Mobile Limited (HKEX:0941).
As the world's largest telecommunications operator in terms of network
scale, customer base and market value, China Mobile strives to
continuously expand its global network and international business. In
order to provide better services to meet the growing demand in China's
international telecommunications market, China Mobile established a
subsidiary, CMI in December 2010, the Company responsible for the
operation of China Mobile's international business. Leveraging on the
strong support by China Mobile, CMI provides a full range of
comprehensive international telecommunications services that cover IDD,
roaming, internet, MNC services and VAS, across the globe. CMI commits
to provide customer with the experience of "feel at home", wherever and
whenever they are.
CMI headquartered in Hong Kong, the world's major telecommunications
hub. The Company has representative office in Beijing, China and
subsidiaries in U.S.A and U.K. Additional information is available at
Clearwire Corporation (Nasdaq:CLWR), through its operating
subsidiaries, is a leading provider of 4G wireless broadband services
offering services in areas of the U.S. where more than 130 million
people live. The company holds the deepest portfolio of wireless
spectrum available for data services in the U.S. Clearwire serves
retail customers through its own CLEAR(R) brand as well as through
wholesale relationships with some of the leading companies in the
retail, technology and telecommunications industries. The company is
constructing a next-generation 4G LTE Advanced-ready network to address
the capacity needs of the market, and is also working closely with the
Global TD-LTE Initiative and China Mobile to further the TD-LTE
ecosystem. Clearwire is headquartered in Bellevue, Wash. Additional
information is available at http://www.clearwire.com.
The Clearwire Corporation logo is available at
This release, and other written and oral statements made by Clearwire
from time to time, contain forward-looking statements which are based
on management's current expectations and beliefs, as well as on a
number of assumptions concerning future events made with information
that is currently available. Forward-looking statements may include,
without limitation, management's expectations regarding future
financial and operating performance and financial condition; proposed
transactions; network development and market launch plans; strategic
plans and objectives; industry conditions; the strength of the balance
sheet; and liquidity and financing needs. The words "will," "would,"
"may," "should," "estimate," "project," "forecast," "intend," "expect,"
"believe," "target," "designed," "plan" and similar expressions are
intended to identify forward-looking statements. Readers are cautioned
not to put undue reliance on such forward-looking statements, which are
not a guarantee of performance and are subject to a number of
uncertainties and other factors, many of which are outside of
Clearwire's control, which could cause actual results to differ
materially and adversely from such statements. Some factors that could
cause actual results to differ are:
-- We have a history of operating losses and we expect to continue to
realize significant net losses for the foreseeable future.
-- If our business fails to perform as we expect or if we incur unforeseen
expenses in the near term, we will require additional capital to fund
our current business. Also, we will need substantial additional capital
over the long-term. Such additional capital may not be available on
acceptable terms or at all. If we fail to obtain additional capital, our
business prospects, financial condition and results of operations will
likely be materially and adversely affected, and we will be forced to
consider all available alternatives.
-- Our current plans and projections are based on a number of assumptions
about our future performance, which may prove to be inaccurate, such as
our ability to substantially expand our wholesale business and implement
various cost savings initiatives.
-- Our business has become increasingly dependent on our wholesale
partners, and Sprint in particular. If we do not receive the amount of
revenues we expect from existing wholesale partners or if we are unable
to enter into new agreements with additional wholesale partners for new
wholesale commitments, our business prospects, results of operations and
financial condition could be adversely affected, or we could be forced
to consider all available alternatives.
-- We regularly evaluate our plans, and we may elect to pursue new or
alternative strategies which we believe would be beneficial to our
business, including among other things, expanding our network coverage
to new markets, augmenting our network coverage in existing markets,
changing our sales and marketing strategy and/or acquiring additional
spectrum. Such modifications to our plans could significantly change our
-- We plan to deploy LTE on our wireless broadband network, alongside
mobile WiMAX and we will incur significant costs to deploy such
technology. Additionally, LTE technology, or other alternative
technologies that we may consider, may not perform as we expect on our
network and deploying such technologies would result in additional risks
to the company, including uncertainty regarding our ability to
successfully add a new technology to our current network and to operate
dual technology networks without disruptions to customer service, as
well as our ability to generate new wholesale customers for the new
-- We currently depend on our commercial partners to develop and deliver
the equipment for our legacy and mobile WiMAX networks, and will be
dependent on commercial partners to deliver equipment and devices for
our planned LTE network as well.
-- Many of our competitors for our retail business are better established
and have significantly greater resources, and may subsidize their
competitive offerings with other products and services.
-- Our substantial indebtedness and restrictive debt covenants could limit
our financing options and liquidity position and may limit our ability
to grow our business.
-- Sprint owns just less than a majority of our common shares, is our
largest shareholder, and may have, or may develop in the future,
interests that may diverge from other stockholders.
-- Future sales of large blocks of our common stock may adversely impact
our stock price.
For a more detailed description of the factors that could cause such a
difference, please refer to Clearwire's filings with the Securities and
Exchange Commission, including the information under the heading "Risk
Factors" in our Annual Report on Form 10-K filed on February 16, 2012
and subsequent Form 10-Q filings. Clearwire assumes no obligation to
update or supplement such forward-looking statements.
CONTACT: Clearwire Investor Relations:
Alice Ryder, 425-636-5828
Clearwire Media Relations:
Susan Johnston, 425-216-7913
JLM Partners for Clearwire:
Mike DiGioia or Jeremy Pemble, 206-381-3600
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