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Apple’s satellite deal with Globalstar will probably save the company.
Globalstar was an also-ran in satellite services, but Apple has basically taken over the company without taking it over. Here’s analyst Tim Farrar in FierceWireless:
Yet getting the deal with Apple is still “pretty impressive,” he said. “It’s still very good to have gotten anything out of this because Globalstar has been languishing for years with revenues of not much more than $100 million a year and this is potentially going to nearly triple their revenues, so that’s a massive improvement in their satellite business,” Farrar said.
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