Apple Invests $1.5 Billion in Globalstar to Enhance Satellite Services

The tech giant's investment aims to expand satellite-based connectivity for iPhone users, including emergency and non-emergency messaging.

Apple's investment includes $1.1 billion in cash prepayments and a $400 million equity stake for 20% ownership in Globalstar.
The funds will help Globalstar build a new satellite constellation and expand ground infrastructure to support Apple's services.
Globalstar's shares surged over 30% following the announcement, while Apple's shares saw a slight decline.
Apple's satellite services, launched with the iPhone 14, now include non-emergency messaging via iOS 18, with plans to eventually charge users.
The deal ensures 85% of Globalstar's network capacity is allocated to Apple, maintaining its role as the primary customer.