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 Expands Globalstar Relationship to Support Growing Satellite Services
Globalstar today announced an amended agreement with Apple that will see an expansion of the satellite services that support Apple features
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 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.
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
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The second, and more recent, feature is Messages via Satellite, which landed in iOS 18. Like Emergency SOS via Satellite, Messages via Satellite can give you service even when the normal ...