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Apple commits $1.5 billion to Globalstar for expanded iPhone satellite services
Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services.
The tech giant's deal with Globalstar includes $1.1 billion in cash, of which $232 million will go toward the satellite company's current debt, and a 20% equity stake. Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services. The tech giant has already been spending hundreds of millions for Globalstar services, which enabled the 2022 rollout of iPhone emergency satellite texting.
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