Skip to content
Visnia
CtrlK
EconomyAI buildoutMarket MapFundsWatchlist
Log in
Market cap
Revenue
Net income
Cash on hand
Gross margin
Net margin
EPS
P/E ratio
Search
Market mapFundsWatchlist
Visnia

GGlobalstar, Inc.

EconomyAI buildoutMarket MapFundsWatchlist
Log in
G

Globalstar, Inc.

  • Overview
  • Financial statements
  • Metrics
  • Quarterly earnings
  • Similar companies
  • History
  • News
  • Insider Transactions

Company history

The Globalstar project was launched in 1991 as a joint venture between Loral Space & Communications and Qualcomm. On March 24, 1994, the companies announced the formation of Globalstar LP, a limited partnership in the United States with financial participation from eight additional firms, including Alcatel, AirTouch, Deutsche Aerospace, Hyundai, and Vodafone. The system was projected to enter service in 1998 at an estimated cost of $1.8 billion. In 1994, Globalstar projected pricing of $0.65 per minute, compared to the approximately $3 per minute the competing Iridium service charged. The company obtained a worldwide license from the World Administrative Radio Conference and received U.S. spectrum allocation from the Federal Communications Commission (FCC) in January 1995, while continuing to negotiate international frequency rights.

The first satellites were launched in February 1998. A launch failure in September 1998 resulted in the loss of 12 satellites, delaying deployment. In late 1999, Globalstar began "friendly user" trials with 44 of the planned 48 satellites. The first call on the system was placed on November 1, 1998, from Qualcomm chairman Irwin Jacobs in San Diego to Loral Space & Communications CEO and chairman Bernard Schwartz in New York City. Limited commercial service began in December 1999, followed by full commercial service in February 2000 across North America, Europe, and Brazil using 48 satellites and four in-orbit spares; additional satellites were maintained as ground spares. Initial pricing was $1.79 per minute.

Following the September 11 attacks in 2001, Qualcomm developed an experimental airborne Globalstar system using multiple user terminals to increase data throughput. The system provided voice and data connectivity, integrated with aircraft systems, and enabled transmission of telemetry and video. On February 15, 2002, Globalstar and three subsidiaries filed for Chapter 11 bankruptcy protection. Restructuring was completed in 2004, following an initial stage in December 2003 in which Thermo Capital Partners assumed operational control. Globalstar LLC was formed in November 2003 and converted into Globalstar, Inc., on March 17, 2006. In 2007, Globalstar launched eight additional first-generation satellites to supplement failing spacecraft. Between 2010 and 2013, the company deployed 24 second-generation satellites to restore system capacity. During this period, Globalstar relocated its headquarters from Silicon Valley to Covington, Louisiana.

In March 2020, the Third Generation Partnership Project approved Globalstar's Band 53 for 5G use, designated as band n53. In March 2021, the company announced the discontinuation of its Sat-Fi2 and Sat-Fi2 RAS services. On September 7, 2022, Apple announced satellite-based emergency messaging for iPhone using Globalstar’s network in the United States and Canada. In October 2024, Globalstar disclosed that Apple had agreed to acquire a 20% stake in the company, with new plans to increase the network to 54 satellites. On April 14, 2026, Amazon announced an agreement to acquire Globalstar for $11.57 billion, while pledging to continue support for Apple devices.

Source: Wikipedia
  • Overview
  • Financial statements
  • Metrics
  • Quarterly earnings
  • Burn Rate
  • Similar companies
  • History
  • Insider Transactions
$82.52Close · Sep 22, 2026