Sierra Wireless Overdrive 3G/4G WiMAX Hotspot Announced by Sprint [Sprint Overdrive WiMAX Hotspot Coming on January 2010]

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Sprint has announced its first 3G/4G WiMAX mobile hotspot, the Overdrive, made by Sierra Wireless. The device, rumored to be launched by Sprint in 2010, will be available in Sprint and Best Buy stores starting with January 10.

The Overdrive is therefore the first gadget of its kind capable to offer you 4G speeds. The device will let you connect multiple Wi-Fi-enabled devices to Sprint’s 4G network acting basically as an upgraded MiFi capable of faster speeds.

The Overdrive, which, for some reason, is a cool name, will let you connect up to five devices at the same time which will be able to share that precious 4G WiMAX connection capable to offer you a connection up to 10 times faster than regular 3G. The device also supports regular 3G connectivity so you’ll be able to use it even in areas where there’s no WiMAX coverage available just yet.

Dan Hesse, Sprint’s CEO had this to say about the new WiMAX toy:

This device delivers the connected lifestyle to our customers in overdrive. The fact that it connects up to five Wi-Fi-enabled devices is especially meaningful because at 4G speeds, customers can download and upload more data–gigabytes, not megabytes–in a matter of seconds. The Overdrive on the 4G network is made for the multitude of bandwidth-hungry applications customers want to access wirelessly, like video streaming. 4G beats 3G for speed and for value.

The Overdrive will feature an LCD that shows battery life and Internet connection status, a web interface for customizing settings and built-in GPS capability. A microSD slot for up to 16GB memory cards is always useful and the device will offer you a more than generous 150 feet range.

The Overdrive will be available for $99.99 after a $50 mail-in rebate as long as you’re ready to sign a new two-year contract with Sprint of at least $59.99 per month. What do you think?