SpaceX's Starlink Mobile Eyes Market Share Gains from 'Big Three'
Dow Jones08-05 06:06
1806 ET - SpaceX has big plans for its move toward mobile connectivity, COO Gwynne Shotwell says on a call. The "Big Three" telecommunications providers -- Verizon, AT&T, and T-Mobile -- together do around $600 billion in business each year, Shotwell says. "I anticipate us to be able to acquire quite a few of their customers because I think our service will be better," she says. Starlink mobile satellites should begin flying next year, she says, and the company has access to 65 megahertz of spectrum through a deals with EchoStar. Shares of the Big Three fall in after-hours trading, and SpaceX stock is down 7.6%.
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