GSAT241115C1000
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Globalstar Newsroom
Express News | Market news: USA satellite communication company Globalstar and Apple have revised their service agreement, with the former providing expanded mobile satellite services for Apple.
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Apple invests $1.5 billion to increase its stake in satellite communications, resulting in Globalstar's stock skyrocketing nearly 40%.
1. USA low-orbit satellite communication company globalstar received a $1.5 billion investment from Apple, including $0.4 billion in equity acquisition and $1.1 billion in infrastructure prepayment; 2. The funds will be used to purchase new satellites and upgrade ground infrastructure, and globalstar will continue to provide Apple with approximately 85% of satellite internet transmission capacity; 3. The profitability of mobile satellite services is a problem, and Apple's free period for the emergency SOS service has been extended to 2025.
Express News | Apple will invest up to $1.5 billion in Globalstar to expand satellite coverage.
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Globalstar (GSAT.US) and apple (AAPL.US) have reached a new agreement to provide mobile satellite extension services.
According to the updated service agreement, Globalstar has agreed to provide expanded services to Apple through the new mobile satellite service network, including new satellite constellations, more ground-based infrastructure, and additional global licenses.
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Express News | Globalstar: After launching the expanded services, the growth rate is expected to double.
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