{"id":166551,"date":"2024-11-02T05:45:08","date_gmt":"2024-11-02T05:45:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/02\/apple-to-invest-1-5-billion-in-globalstar-to-expand-satellite-coverage\/"},"modified":"2024-11-02T05:45:08","modified_gmt":"2024-11-02T05:45:08","slug":"apple-to-invest-1-5-billion-in-globalstar-to-expand-satellite-coverage","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/02\/apple-to-invest-1-5-billion-in-globalstar-to-expand-satellite-coverage\/","title":{"rendered":"Apple to Invest $1.5 Billion in Globalstar to Expand Satellite Coverage"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/i0.wp.com\/www.gadgets360.com\/static\/desktop\/images\/spacer.png?fit=1,1&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Apple to Invest .5 Billion in Globalstar to Expand Satellite Coverage\" title=\"Apple to Invest .5 Billion in Globalstar to Expand Satellite Coverage\" \/><\/div><p> <br \/>\n<\/p>\n<div id=\"center_content_div\">\n<div class=\"content_text row description\">\n<p><a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/apple\">Apple<\/a> will invest up to $1.5 billion in <a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/tags\/globalstar\">Globalstar<\/a> to fund the expansion of its iPhone communication services, the satellite provider said in a regulatory filing on Friday.<\/p>\n<p>Shares of Globalstar jumped over 30%, while Apple was down around 1.4% a day after it forecast tepid quarterly revenue growth.<\/p>\n<p>Under the funding agreement, Apple will commit $1.1 billion in cash and also purchase 20% equity in Globalstar for $400 million. The satellite company said it will use a portion of the funds to pay down debt.<\/p>\n<p>The move is another in a line of partnerships between space firms and mobile service providers looking to provide satellite-based connectivity to customers in regions with limited network access.<\/p>\n<p>Globalstar also said it will allocate 85% of its network capacity to Apple. The deal is expected to close on Tuesday.<\/p>\n<p>The iPhone maker partnered with Globalstar in 2022 for a feature that would allow Apple users to send emergency messages from remote areas.<\/p>\n<p><em>\u00a9 Thomson Reuters 2024<\/em><\/p>\n<p><i>(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n<\/div>\n<p class=\"downloadtxt margin_b20\">\n                For the latest <a href=\"https:\/\/www.gadgets360.com\/news\">tech news<\/a> and <a href=\"https:\/\/www.gadgets360.com\/reviews\">reviews<\/a>, follow Gadgets 360 on <a href=\"https:\/\/twitter.com\/gadgets360\" target=\"_blank\" rel=\"nofollow noopener\">X<\/a>, <a href=\"https:\/\/facebook.com\/gadgets360\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>, <a href=\"https:\/\/whatsapp.com\/channel\/0029VaB3o5hHltY9SJbXg335\" target=\"_blank\" rel=\"nofollow noopener\">WhatsApp<\/a>, <a href=\"https:\/\/www.threads.net\/@gadgets.360\" target=\"_blank\" rel=\"nofollow noopener\">Threads<\/a> and <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMILm3AowtoHPAQ?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\" target=\"_blank\" rel=\"nofollow noopener\">Google News<\/a>. For the latest videos on gadgets and tech, subscribe to our <a href=\"https:\/\/www.youtube.com\/channel\/UCx5e1u7BX0aKwEj3sdYXdXg?sub_confirmation=1\" target=\"_blank\" rel=\"nofollow noopener\">YouTube channel<\/a>. If you want to know everything about top influencers, follow our in-house <a href=\"https:\/\/www.whosthat360.com\/\" target=\"_blank\" rel=\"noopener\">Who&#8217;sThat360<\/a> on <a href=\"https:\/\/www.instagram.com\/whosthat360\/\" target=\"_blank\" rel=\"nofollow noopener\">Instagram<\/a> and <a href=\"https:\/\/www.youtube.com\/@WhosThat360\" target=\"_blank\" rel=\"nofollow noopener\">YouTube<\/a>.            <\/p>\n<div class=\"story_nextprv\">\n<div class=\"left_story\">\n            <a href=\"https:\/\/www.gadgets360.com\/ai\/news\/walt-disney-forms-business-unit-to-coordinate-use-of-ai-augmented-reality-6926114\"><br \/>\n                <i class=\"sprite\"\/><\/p>\n<div class=\"story_image\"><\/div>\n<p>                <span>Walt Disney Forms Business Unit to Coordinate Use of AI, Augmented Reality<\/span><br \/>\n            <\/a>\n        <\/div>\n<\/div><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.gadgets360.com\/mobiles\/news\/apple-to-invest-up-to-1-5-billion-in-globalstar-for-satellite-coverage-expansion-6926260#rss-gadgets-news\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":166552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/www.gadgets360.com\/static\/desktop\/images\/spacer.png","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[828,129121,1289,23963,6315,129122,4363,1666,55541],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/166551"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=166551"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/166551\/revisions"}],"predecessor-version":[{"id":166553,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/166551\/revisions\/166553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/166552"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=166551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=166551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=166551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}