May 13 (Bloomberg) -- Cisco Systems Inc. won an order to expand the high-speed wireless network of Clearwire Corp. and said it will introduce devices for the carrier this year.

Cisco, the world’s largest maker of networking equipment, will help Clearwire build out its network to more than 80 U.S. markets by the end of 2010, the companies said in a statement today. Clearwire, founded in 2003 by wireless-industry pioneer Craig McCaw, currently serves Baltimore and Portland, Oregon.

The Cisco devices will be targeted at consumers and small and medium-sized companies. San Jose, California-based Cisco aims to get into technologies that boost Internet traffic, increasing demand for network equipment. It bought a camcorder maker in March and introduced a music player in December as part of its push into consumer electronics.

Clearwire uses a technology called WiMax to offer Web access. Clearwire bills its network, branded as Clear, as the fastest available, exceeding the speeds of so-called third- generation networks that now serve devices like Apple Inc.’s iPhone 3G and Research In Motion Ltd.’s BlackBerry Storm.

The companies didn’t give financial details. Clearwire has said it will spend $1.5 billion to $1.9 billion this year on building out its network.

Cisco dropped 67 cents to $18.05 at 4 p.m. New York time in Nasdaq Stock Market trading. Clearwire, based in Kirkland, Washington, fell 60 cents to $5.09.

To contact the reporter on this story: Kelly Riddell in Washington at kriddell1@bloomberg.net; Ville Heiskanen in New York at vheiskanen@bloomberg.net

Last Updated: May 13, 2009 16:12 EDT