GlobalStar now informs some of their company's developments, including their collaboration with Apple. Through it, GlobalStar said Apple would take a 20% equity stake in GlobalStar, at a value of around $400 million.
In addition, Apple will also allocate $1.1 billion as an initial payment for the use of GlobalStar's infrastructure. As many are aware, GlobalStar is a satellite-based service provider, and Apple itself through the latest iPhone integrates support for sending messages via satellite when outside the cellular coverage area. Apple initially introduced the satellite connection integration feature through the iPhone 14, and at that time it was limited to emergency SOS transmissions.
For now, the feature of sending messages via satellite is still limited in some locations, and is still offered for free. It is not yet known when Apple will further expand the use of this satellite connection, and how much Apple will charge for the purpose.