U.S.-based SpaceX announced that it would acquire licenses for spectrum used for terrestrial mobile communications. The move is widely seen as accelerating the company’s entry into the wireless carrier business.
On the 8th, U.S.-based SpaceX announced that it would acquire licenses for spectrum used for terrestrial mobile phone communications in the United States. According to the announcement, the spectrum is a key band for smartphones and will enable signals to reach indoor locations and elsewhere more readily over a broad area.
Following the announcement, major U.S. telecom stocks plunged across the board in after-hours trading. AT&T fell 7.5%, Verizon Communications fell 7%, and T-Mobile US fell 7%.
The move is viewed as part of SpaceX’s accelerated entry into the wireless carrier business, and the use of terrestrial spectrum could affect developments going forward.