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  • Updated: 1 month ago

iPhone 13 Rumored To Use Satellites Directly Increases Globalstar Shares By 50%

Satellite service provider, Globalstar shares has increased rapidly more than 50% on Monday following a report that the next iPhone will have the ability to utilize satellite communication.

TFI Securities analyst Ming-Chi Kuo predicted in a note to investors over the weekend that Apple is “optimistic about the trend of satellite communications” and “will likely” include the ability to connect to extraterrestrial networks in its upcoming iPhone.

Apple has not released any details about the new iPhone to the public but it is expected to launch sometime this year. The phone doesn’t have an official name, but many are referring to it as the iPhone 13.

Globalstar operates an existing satellite phone network of 24 satellites in low Earth orbit. Kuo said that the company is most likely to partner with Apple.

“If Apple enables the relevant software functions, iPhone 13 users can call and send messages via satellite when not within 4G/5G coverage,” Kuo wrote.

Globalstar did not immediately respond to the request for comment on the Kuo note.

TOP 5 MARKET GAINERS
Top Gainer
Index Opening Price Closing Price Change % Day’s High Day’s Low
CUTIX PLC 5.00 5.50 10.00 5.50 5.50
CONSOLIDATED HALLMARK INSURANCE PLC 0.55 0.60 9.09 0.60 0.55
SMART PRODUCTS NIGERIA PLC 0.24 0.26 8.33 0.26 0.26
NIGERIAN BREWERIES PLC 47.90 51.45 7.41 51.45 51.45
BUA CEMENT PLC 67.85 72.00 6.12 72.00 72.00
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