iPhone Satellite, Korean Alternative Payments Law and more – 24/7 Wall St.

MacRumors Sunday report that Apple Inc. (NASDAQ: AAPL) is including satellite connectivity in the new iPhone lit up satellite communications stock trading on Monday. Globalstar shares jumped nearly 65% ​​and Iridium shares jumped over 15%. Apple stock isn’t too bad either. The shares hit a new all-time high of $ 153.49 and closed at $ 153.12.

According to a report by Bloomberg’s Mark Gurman, the iPhone’s satellite capabilities will be focused on helping users report emergencies. At least for starters, an iPhone won’t replace a satellite phone. Gurman’s sources told him that Apple might have the required hardware in the next iPhone, but the two new features “probably won’t be ready until next year.”

A feature, now called Satellite Emergency Message, allows users to connect to the satellite network and send a short text message to emergency services. The second feature reports major crises and emergencies, such as plane crashes, using the satellite network. According to Gurman, the second feature could automatically send location and medical information and notify the user’s emergency contacts of the situation.

Apple has not commented on the reports, and one of Gurman’s sources noted that features might change before they’re released, or Apple might drop the idea yet.

On Monday, South Korea’s parliament approved a bill to ban large app stores like the Apple Store and Google Play from requiring app developers to only use the stores’ in-app purchase system. According to the Wall Street Journal, President Moon Jae-in is expected to sign the bill because his party “strongly endorsed the legislation.”

While neither Apple nor Google is specific about how much revenue their app stores generate, Apple’s service revenue totaled $ 53.8 billion in fiscal 2020, and Google’s other revenue totaled 21. , $ 7 billion. These are the compartments into which app sales are dumped.

The law allows a fine of up to 3% of a company’s Korean sales for non-compliance with the law.

Research firm IDC reported on Monday that smartphone shipments are expected to increase year-over-year by 7.4% in 2021 to reach 1.37 billion units. Growth will slow to 3.4% in 2022 and 2023.

Apple’s iPhone shipments are expected to increase 13.8% this year, while Android-based phones show a gain of 6.2%. IDC noted that smartphone shipments “managed to show minimal growth” compared to the pre-pandemic 2019 period. Growth will come from growing markets like India, Japan, the Middle East and Africa. , while shipments will remain below 2019 levels in China, the United States. States and Western Europe.

5G-enabled devices are the main drivers of growth, although the average selling price of $ 634 in 2021 is expected to be stable compared to 2020 prices. However, the average selling price of 4G phones is expected to drop by 30% to $ 206. Total 5G phone shipments are expected to more than double to 570 million units this year and account for more than half (54.1%) of all smartphone shipments by the end of 2022.

Finally, Apple announced Monday that it has acquired the classical music streaming service Primephonic. The service is no longer accepting new subscribers and will go offline on September 7. Current subscribers will receive a free six-month Apple Music subscription. Apple plans to launch an application dedicated to classical music based on the Primephonic interface next year.

About Matthew R. Dailey

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