Intel writes down Clearwire investment

12 Jan 2009

The US-based chip manufacturer Intel has announced that it will assume a USD950 million one-off charge in the fourth-quarter after writing down the value of its investment in US WiMAX operator Clearwire. Intel agreed to pump USD1.6 billion into Clearwire last year, but the telco’s share value has recently fallen to below USD5, forcing Intel to declare the write-down. Intel says it is still a strong supporter of WiMAX technology, however. Julie Coppernoll, director of marketing for the WiMAX Program Office at Intel, told Unstrung: ‘Economic conditions notwithstanding, we still believe in WiMAX and think it is the preferred 4G solution.’

United States, Clearwire, Intel