Communications Sector

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>>> Iridium connects with Qualcomm <<<


>>> 2 Unlikely Stocks Sent Markets Soaring Friday


By Dan Caplinger

Motley Fool

Jan 6, 2023


https://www.fool.com/investing/2023/01/06/2-unlikely-stocks-sent-markets-soaring-friday/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article



Iridium connects with Qualcomm

Meanwhile, shares of Iridium Communications picked up 13% on Friday. The satellite network specialist announced a major partnership with Qualcomm (QCOM -0.61%) that could dramatically boost Iridium's business and the space stock's price.

Under the terms of the agreement, Iridium's fully operational satellite constellation will support Qualcomm's new Snapdragon Satellite mobile solution, which is expected to make its debut in the second half of this year. Select premium smartphone models running the Android operating system will start offering emergency messaging over the satellite network in select regions, with plans to roll out service more broadly in the future.

In the long run, Iridium has even more ambitious plans for its satellite network. In addition to voice and data communications via mobile phone, Iridium also notes that its satellite connectivity can have equally useful applications for vehicles as well as in business assets connected through the Internet of Things. By making a partnership with Qualcomm rather than simply making technology available in a single cellphone model, Iridium ensures maximum penetration of its service and opens the door to wider adoption as users get familiar with the technology.

After more than a decade of holding still, Iridium stock has soared fivefold since 2018. Investors are more excited than ever that the long-term vision of the satellite network operator is finally becoming reality.

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