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WMWifiRouter creates a ad-hoc network connection on your phone. When you look for the available networks on your laptop or what ever else you should see a networkd called WMWifiRouter and you just connect like any other access point. It is ad-hoc though so what ever you are trying to connect must support ad-hoc connections. PSP for instance cannot connect. To answer your question though yes it does broadcast like a router at home.
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