Clearwire said its network now reaches 119 million potential subscribers around the U.S., nearly meeting the company's target of 120 million by the end of 2010. Clearwire has been struggling to continue the expansion of its network while losing money. After its third-quarter report, the company announced it would , delay the introduction of its first branded smartphone, and cut back marketing and advertising efforts, among other cost-cutting steps. Those moves came even after Clearwire had reported nearly a doubling in subscribers and a 114 percent gain in revenue.

Despite that third-quarter growth, Clearwire lost $139 million in the quarter. The company raised about $1.4 billion through a debt offering in early December but kept its austerity measures in place.