Satellite communications provider Globalstar (NYSE American: GSAT) announced today that Apple (NASDAQ:AAPL) is its long-rumored $327 million customer.
Globalstar made the announcement as a Reg FD filing with the Securities and Exchange Commission.
Meanwhile, Apple today held its iPhone 14 launch event, during which the tech giant stated that the iPhone 14 will feature “Emergency SOS via satellite” service starting in November, without naming Globalstar. The service will include location-sharing while outside of cellular service areas.
Apple did not disclose the pricing of the service but said it will be free on all iPhone 14 phones for two years.
Emergency texts
Apple has designed software to elicit key information during emergencies with a single text message.
“We worked with emergency experts to surface the questions they’re most likely to ask, and we provided the most common responses for you to choose from — with just a few taps,” an Apple spokesperson said during the announcement.
The software asks the user questions, sending one message to an emergency center rather than a series of messages back and forth, according to Apple.
The company has set up relay stations in order to deliver voice calls to public safety answering points that do not accept text messages.
Trading in Globalstar shares was halted briefly today. The stock, which opened at $2.18, was trading down 10% at $1.96 at 3:34 p.m. ET today after peaking at $2.43 in volatile trading.
