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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. Shares of Globalstar jumped over 30%, while Apple was down around 1.4% a day after it forecast tepid quarterly revenue growth. Under the funding agreement, Apple will […]
Apple announced its Emergency SOS via satellite feature with the iPhone 14 series back in 2022 using US-based satellite services provider GlobalStar’s infrastructure. In a new development, Apple has committed $1.1 billion in a new deal with Globalstar to expand the latter’s satellite infrastructure capacity. In addition, Apple now owns 20% of Globalstar via an […]