US fixed wireless access (FWA) service provider Starry Holdings Group emerged from bankruptcy protection as a privately held company, claiming there is a clear path to profitability despite facing increased competition from 5G-based broadband services.
Starry stated the reorganisation strengthened its balance sheet, with debt restructured and eliminated, and an infusion of exit funding.
Co-founder and former COO Alex Moulle-Berteaux was named CEO in place of fellow co-founder Chet Kanojia in June, a month after a court approved a reorganisation plan.
The executives are both on the reorganised board.
Recon Analytics analyst Roger Entner told Mobile World Live the FWA sector has become more crowded, with AT&T, Verizon and T-Mobile US all now present, eliminating the company’s early mover advantage.
He added it is easier to install equipment from the mobile operators than the dedicated FWA player, which also “struggles” to send signals through walls.
“It’s one thing when you can’t out-compete relatively slow-moving cable or fibre providers.”
“But now they’re dealing increasingly with ubiquitous 5G providers.”