💨 Abstract

Apple plans to invest up to $1.5 billion in Globalstar, a satellite provider, to enhance its iPhone communication services. The deal includes a $1.1 billion cash commitment and a $400 million equity purchase for a 20% stake. Apple will allocate 85% of Globalstar's network capacity for its services. The deal is expected to close on Tuesday and aims to provide satellite-based connectivity in regions with limited network access.

Courtesy: theprint.in