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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.
苹果对卫星投资的宣传，预料到了人类容易遭遇的不幸。如果你被困在没有移动信号的山上，你的iPhone 14会发短信求救。这个想法是为了让智能手机变得更加不可或缺。
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.
但求救信号不太可能是苹果野心的终点。就像该公司开始更多地使用自己的芯片来增加硬件制造的自主权一样，苹果可能希望卫星能让它对连接有更多的控制权。其结果可能是与AT&T等无线运营商的直接竞争。
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.
卫星和智能手机的合作正大行其道。华为正在与中国的北斗卫星网络合作，而T-Mobile已签署协议，将智能手机与SpaceX的卫星连接起来。SpaceX的老板埃隆·马斯克也声称与苹果公司有过对话。亚马逊与Verizon合作，OneWeb与AT&T合作，诺基亚与AST SpaceMobile合作。一些公司的目标是将卫星直接连接到手机上，另一些则是连接到手机信号塔上。
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.
苹果与卫星通信公司Globalstar的协议，旨在在2022年底前为美国和加拿大的客户提供直接的电话转卫星服务。此次结盟推动Globalstar股价今年上涨逾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.
卫星扩张需要大规模的投资，而回报可能要等上好几年。亏损的Globalstar去年的收入只有1.24亿美元。幸运的是，苹果公司的自由现金流为930亿美元，比前一年增长了四分之一。这可以支付发射新卫星的资本支出和经常性的服务费用。
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.
苹果还拥有认股权证，可以1.01美元的价格收购Globalstar至多2.64%的流通股(较上周五的股价低43%)。作为回报，该公司将控制85%的网络容量。
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.
潜在收益可能是巨大的。如果卫星服务能超越紧急短信，延伸到互联网连接，苹果可能会增加另一个经常性收入来源。任何地方的互联网接入都是有价值的。假设1%的美国iPhone用户每月支付100美元的访问费用，这项服务将为该公司增加近15亿美元的年收入。
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.
挑战在于监管部门的批准。近地轨道上有成千上万颗卫星，还有成千上万颗正在计划中。SpaceX一家就想要4.2万。过度拥挤有可能引发事故。但Globalstar有一个卫星网络，加上基于卫星的移动服务的批准。苹果公司的新合作关系给了苹果手机另一个优势。
