Globalstar strengthens cooperation with Apple: Expansion of satellite network planned

Globalstar has updated its service agreements with Apple to expand its mobile satellite service network. Under this new agreement, the company plans to launch a new satellite constellation and enhance its ground infrastructure. This collaboration stipulates that Apple will pay for the services in advance, while Globalstar retains the full revenue from terrestrial and satellite-based services and allocates 85% of its network capacity to Apple. Through this network expansion, Globalstar expects to more than double its annual revenue. However, the forecast for future profits remains uncertain due to various risks.