Nortel Finally Bails On WiMax (NT)

Telecom gear maker Nortel (NT), which filed for bankruptcy protection two weeks ago, is finally putting an end to one of its big wireless bets. Toronto-based Nortel (NT) is killing off its mobile WiMax business, ending a joint venture with Israel’s Alvarion.

WiMax, a super-fast mobile Internet technology, hasn’t taken off the way some of its backers had hoped, as many telcos — like AT&T (T), Verizon (VZ), and T-Mobile (DT) in the U.S. — opt for a competing technology called LTE.

And Nortel didn’t get a piece of the one big mobile WiMax buildout in the U.S. — Sprint Nextel’s (S) Xohm unit, which it recently spun into Clearwire (CLWR).

See Also:
Nortel: Stock For The Long Run
Nortel Files For Bankruptcy
WiMax Loses A Backer As Nortel Pulls Investment

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