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On November 2nd, Southern Finance and Economics reported that Globalstar, a low Earth orbit satellite communication company based in the United States, announced on Friday that its major client, Apple Inc., has committed to investing $1.5 billion in the company through capital injection and promised to purchase services. The funds will be used to purchase new satellites and upgrade ground infrastructure. Globalstar will continue to provide about 85% of the satellite Internet transmission capacity to Apple.
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