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Apple’s pitch for satellite investment anticipates the misadventures to which humans are prone. Get stranded up a mountain with no mobile signal and your iPhone 14 will text out an SOS. The idea is to make smartphones even more indispensable.
蘋果對衛星投資的宣傳，預料到了人類容易遭遇的不幸。如果你被困在沒有移動信號的山上，你的iPhone 14會發簡訊求救。這個想法是爲了讓智慧型手機變得更加不可或缺。
But distress signals are unlikely to be the end of Apple’s ambitions. Just as the company has begun to use more of its own chips to increase autonomy over hardware manufacture, Apple may hope that satellites will give it more control over connectivity. The result could be direct competition with wireless carriers such as AT&T.
但求救信號不太可能是蘋果野心的終點。就像該公司開始更多地使用自己的晶片來增加硬體製造的自主權一樣，蘋果可能希望衛星能讓它對連接有更多的控制權。其結果可能是與AT&T等無線營運商的直接競爭。
Satellite/smartphone deals are all the rage. Huawei is working with China’s BeiDou satellite network while T-Mobile has signed a deal to connect smartphones to SpaceX satellites. SpaceX boss Elon Musk also claims to have had conversations with Apple. Amazon has partnered with Verizon, OneWeb with AT&T and Nokia with AST SpaceMobile. Some aim to connect satellites directly to phones, others to cell towers.
衛星和智慧型手機的合作正大行其道。華爲正在與中國的北斗衛星網路合作，而T-Mobile已簽署協議，將智慧型手機與SpaceX的衛星連接起來。SpaceX的老闆伊隆·馬斯克也聲稱與蘋果公司有過對話。亞馬遜與Verizon合作，OneWeb與AT&T合作，諾基亞與AST SpaceMobile合作。一些公司的目標是將衛星直接連接到手機上，另一些則是連接到手機信號塔上。
Apple’s deal with satellite communication company Globalstar aims to provide a direct phone-to-satellite service to customers in the US and Canada before the end of 2022. The tie-up has pushed Globalstar’s share price up more than 57 per cent this year.
蘋果與衛星通訊公司Globalstar的協議，旨在在2022年底前爲美國和加拿大的客戶提供直接的電話轉衛星服務。此次結盟推動Globalstar股價今年上漲逾57%。
Satellite expansion requires large-scale investment for returns that may be years away. Lossmaking Globalstar’s revenues were just $124mn last year. Luckily, Apple’s free cash flow was $93bn, up a quarter on the previous year. This covers the capital expenses of sending up new satellites plus recurring service fees.
衛星擴張需要大規模的投資，而回報可能要等上好幾年。虧損的Globalstar去年的收入只有1.24億美元。幸運的是，蘋果公司的自由現金流爲930億美元，比前一年成長了四分之一。這可以支付發射新衛星的資本支出和經常性的服務費用。
Apple also has warrants to acquire up to 2.64 per cent of Globalstar’s outstanding stock at $1.01 (43 per cent below Friday’s price). In return, it will control 85 per cent of network capacity.
蘋果還擁有認股權證，可以1.01美元的價格收購Globalstar至多2.64%的流通股(較上週五的股價低43%)。作爲回報，該公司將控制85%的網路容量。
Potential gains could be vast. If satellite services go beyond emergency texts to internet connections, Apple could add another source of recurring revenue. Internet access in any location is valuable. Say 1 per cent of US iPhone users paid $100 a month for access. The service would add close to $1.5bn to the company’s annual revenue.
潛在收益可能是巨大的。如果衛星服務能超越緊急簡訊，延伸到網路連接，蘋果可能會增加另一個經常性收入來源。任何地方的網路接入都是有價值的。假設1%的美國iPhone用戶每月支付100美元的訪問費用，這項服務將爲該公司增加近15億美元的年收入。
The challenge is regulatory approval. There are thousands of satellites in low Earth orbit and tens of thousands more are planned. SpaceX alone wants 42,000. Overcrowding risks accidents. But Globalstar comes with a satellite network plus approval for satellite-based mobile services. Apple’s new partnership gives iPhones another advantage.
挑戰在於監管部門的批准。近地軌道上有成千上萬顆衛星，還有成千上萬顆正在計劃中。SpaceX一家就想要4.2萬。過度擁擠有可能引發事故。但Globalstar有一個衛星網路，加上基於衛星的移動服務的批准。蘋果公司的新合作關係給了蘋果手機另一個優勢。