News Ticker

SoftBank Invests $1.2 Billion in OneWeb Satellite Network

SoftBank Invests $1.2 Billion in OneWeb Satellite Network

Internet satellites may take over as the dominant form of transmission for the Internet. SoftBank invested $1.2 billion in OneWeb, a global satellite project. Its goal is to provide worldwide Internet coverage. Up to 2,400 small satellites may be sent into low orbit to complete the project. It may be possible to reduce the number to 900 satellites. OneWeb would have to build their own spacecraft to launch the satellites. OneWeb expects to spend $2.5 billion to $3.5 billion to lauch the satellites. The company raised $500 million from several companies including Airbus Group, Bharti, Intelsat, Totalplay, Hughes Network Systems, Qualcomm, Virgin Group, and Coca-Cola.

About 10 satellites have been constructed in France. The rest of the satellites are expected to be built in the U.S. There’s a new manufacturing facility being constructed in Exploration Park, Florida. The facility is expected to produce 15 satellites per week. An estimated 3,000 jobs will be produced as well.

After the global Internet network is constructed, OneWeb expects to provide 10 terabits per second of new capacity. It will support 2G to 5G communications and Wi-Fi.

Source: Network World

SoftBank Invests $1.2 Billion in OneWeb Satellite Network
About Vasanth Simon (916 Articles)
@VasanthSimon1

Leave a comment