The quite popular Boingboing blog posted the article by Phill Belanger, the full text is as follows:
"Wi-Fi is not an acronym for any phrase. It doesn't mean. Wi-Fi and a yin-yang-style logo are designed by Interbrand, the company has set out. Famous names like 'Prozac', 'Compaq', 'Oneworld', 'Imation' .
We, the founders of the Wireless Ethernet Compatibility Alliance (now the Wi-Fi Alliance), have hired Interbrand to design brands and logos to emphasize the ability to interact with each other and promote technology. We need something easier to grasp than the term 'IEEE 802.11b Direct Sequence'.
The only reason you hear the term 'Wireless Fidelity' is because some colleagues in the group feel dissatisfied. They do not understand brand or marketing. They can't imagine using the name 'Wi-Fi' without a few clear explanations. Therefore, we agreed to add the words 'short for Wireless Fidelity' behind this name. This is a mistake and only makes people difficult to understand and dilute the brand. Later, when Wi-Fi was more successful and there were more members from large businesses in the board, the association accepted this 'extension'.
Thus, Wireless Fidelity was created after we selected 10 different terms proposed by Interbrand. And it doesn't mean anything. This is just a clumsy attempt to find two words that match Wi and Fi ".