Apple Will Invest $1.5B in Globalstar to Expand Satellite Services
The tech company is pledging more money for Globalstar's network of satellites, which power Emergency SOS and messaging.
A satellite services company is up 31% after announcing Apple is taking a stake
Apple is investing further in infrastructure for its satellite messaging features for iPhones, which enables texting without WiFi or cell service.
Apple to Bolster iPhone Satellite Services With $1 Billion Investment
The funding will go to company partner Globalstar, which plans on building a new satellite constellation to power Apple services.
Apple to expand its satellite services with Globalstar
Apple is becoming a satellite communications company, taking a 20% stake in its existing satellite services provider, Globalstar , as part of a much-expanded deal with the latter. The iPhone maker has agreed to put up to $1.1 billion into the satellite company, deepening its ties with the firm.
Apple is buying 20 percent of its iPhone satellite services partner
Apple is taking a 20 percent stake in its iPhone satellite connectivity partner GlobalStar — a stake worth $400 million — as part of an expansion of its deal with the company. GlobalStar will also receive a prepayment of $1.1 billion from Apple that is intended to improve satellite infrastructure.
Apple commits $1.5 billion to Globalstar for expanded iPhone satellite services
Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services.
Apple to invest up to $1.5 bln in Globalstar for satellite coverage expansion
Apple will invest up to $1.5 billion in Globalstar to fund the expansion of its iPhone communication services, the satellite provider said in a regulatory filing on Friday.
Morgan Stanley says Globalstar expanded Apple relationship ‘very encouraging’
After Globalstar (GSAT) filed an 8K disclosing an expanded relationship with Apple (AAPL), Morgan Stanley analyst Simon Flannery noted that
Apple Wants More Satellites and Ground Stations for iPhone Satellite SOS
Globalstar has announced an expansion of its deal with Apple that will help the iPhones satellite services keep up with demand, and possibly to expand the service to more countries and regions. Globalstar is a connectivity provider for the iPhones life-saving satellite services.
Apple Is Diving Deeper Into Satellites
Globalstar has worked with Apple to provide the services free of charge to iPhone users (for two years after activating the device) since it began offering the feature in 2022. It works similarly to other services like SpaceX Starlink,
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