Asia Tech Wire (Nov 4) -- Globalstar Inc., a U.S. low-earth orbit (LEO) satellite communications company, disclosed on Friday that Apple, the company's major customer, has committed $1.5 billion to it through capital injections and commitments to purchase services.

The deal consists of two main parts. First, Apple paid $400 million for a 20% stake in Globalstar, a transaction that closed around Nov. 5, 2024.

The other is a $1.1 billion "infrastructure prepayment," paid quarterly, primarily for the expansion of Globalstar's satellite service network.

In exchange, Globalstar said it would continue to provide Apple with about 85% of its satellite Internet transmission capacity.