MILPITAS, Calif.-Satellite phone manufacturer and service provider Globalstar L.L.C. announced a $140 million multi-year agreement with Qualcomm Inc. to produce next-generation voice and data products.
The deal expands on an existing relationship under which the chipmaker manufactures Globalstar handsets, fixed units and data modem hardware. The agreement secures Globalstar’s hardware requirements for at least the next four years, the company said.
“In the near term, the agreement enables Globalstar to ensure an uninterrupted supply of mobile handsets and fixed units,” said Jay Monroe, Globalstar’s chairman and chief executive officer.
Shares of Qualcomm were down 2.3 percent to $35.30 in mid-day trading on the Nasdaq.
