Apple is making a significant investment in satellite technology.

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	Forwarded this email? Subscribe here for more Apple to invest up to $1.5 billion more in Globalstar for satellite coverage expansion MacDailyNews Nov 1   READ IN APP   Apple is making a significant investment in satellite technology. The company will invest up to $1.5 billion in Globalstar to expand its iPhone communication services, as announced in a regulatory filing on Friday. This investment will allow Apple to further enhance its satellite-based emergency messaging and other connectivity features. Reuters: ‎ 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. Globalstar also said it will allocate 85% of its network capacity to Apple. The deal is expected to close on Tuesday. The iPhone maker partnered with Globalstar in 2022 for a feature that would allow Apple users to send emergency messages from remote areas. ‎ MacDailyNews Note: On February 28, 2023, Apple lent Globalstar $252 million to help cover upfront costs for replenishing its low Earth orbit (LEO) constellation to support Apple’s groundbreaking safety service, “Emergency SOS via satellite.” We are currently about 1/4th of the way to being sustainable with Substack subscriptions. Not a bad start! Please tell your Apple-loving friends about MacDailyNews on Substack and, if you’re currently a free subscriber, please consider $5/mo. or $50/year to keep MacDailyNews going. Just hit the subscribe button. Thank you! Upgrade to paid You're currently a free subscriber to MacDailyNews. For the full experience, upgrade your subscription. Upgrade to paid   Like Comment Restack   © 2024 MacDailyNews 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe