Phones Served From Orbit
Nico Wittenborn@nico
The idea
I believe satellite coverage becomes a bigger part of cell service over the next decade, but AT&T, T-Mobile, Verizon and carriers abroad keep the customer relationship. So this basket leans on the companies carriers rent from and depend on: chipmakers and network gear firms, the carriers themselves, satellite operators, and owners of scarce satellite spectrum, with a small cash buffer. Carriers and suppliers carry most of the weight since they're steadier, while newer satellite builders stay as smaller positions given the uncertainty around how this plays out.
What it owns
- Every satellite call runs through modems, radio chips and network equipment from these suppliers, regardless of which satellite carries it. · QualcommMakes the modems inside most phones, so every satellite call passes through its silicon., Keysight TechnologiesSupplies testing equipment that carriers, satellite companies and phone makers use to validate satellite phone connections., NokiaMakes core network equipment that carriers buy to integrate satellite traffic into their existing systems., EricssonSupplies carrier network equipment that stays in use as carriers add satellite coverage to their existing infrastructure., Skyworks SolutionsMakes the radio chips in phones that handle satellite signals alongside terrestrial bands.31%
- Carriers own the airwaves that satellites use to reach phones, so they control the relationship with end users even as satellite coverage fills geographic gaps. · T-Mobile UST-Mobile sells Starlink satellite coverage under its own brand and bills customers directly, keeping the carrier-customer relationship intact while satellites handle the service., AT&TIt maintains customer relationships and billing control through partnerships in satellite ventures, letting it monetize orbital coverage while partners bear satellite infrastructure expenses., Verizon CommunicationsVerizon partners with AST SpaceMobile and the satellite joint venture, keeping satellite service integrated into its own offerings while paying a steady dividend that stabilizes a long-term basket., Vodafone GroupKeeps the European customer while adding satellite coverage through its own plans instead of losing them to satellite operators.29%
- These companies build and operate the satellite fleets that provide phone coverage from orbit. · Space Exploration Technologies (SpaceX)Operates the largest direct-to-cell satellite fleet available to carriers., AST SpaceMobileBuilds satellites designed to be leased by carriers to provide coverage to their existing customers., Amazon.comBuilding a satellite network and acquired spectrum to lease phone-from-orbit capacity to carriers, though this represents a small portion of the company.21%
- Satellite airwaves that reach ordinary phones are scarce, and their owners earn revenue whenever anyone uses them for phone service. · Rocket LabAcquiring spectrum-rich satellite assets that can be leased to carriers seeking phone service capacity., ViasatOwns valuable L-band satellite spectrum that can be leased to operators and carriers building phone-from-orbit service.12%
- Cash7%