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Sprint Nextel has ended its WiMax partnership with Clearwire, signaling a review of the project's future and sending Clearwire stock into a tailspin.

Sprint said it would scale back its original commitment to spend $5 billion the next-gen wireless network by the end of 2010, reports The Boston Globe.

The announcement sent shockwaves across the industry. Handset-makers Motorola, Samsung, Nokia, and WiMax chip-developer Intel all posted losses this past Friday.

Analysts believe the telecom giant won't make a move until
it finds a replacement for ex-CEO Gary Forsee, who resigned last month.

Meanwhile, Clearwire said it's met other potential partners, saying the upcoming government airwaves auction has garnered a lot of interest in the firm.
One possibility is Google. It is a big player in the FCC auction slated for January 2008 and it also plans to offer software to Sprint's WiMax customers.