Welcome to our dedicated page for EchoStar Corporation news (Ticker: SATS), a resource for investors and traders seeking the latest updates and insights on EchoStar Corporation stock.
EchoStar Corporation (NASDAQ: SATS) stands as a premier global provider of satellite operations and video delivery solutions. With its headquarters in Englewood, Colorado, and operations spanning worldwide, EchoStar has been a trailblazer in the satellite and television industries for nearly 30 years. The company's wholly owned subsidiary, Hughes, is the world's leading provider of satellite broadband services, offering network technologies and managed services in over 100 countries. EchoStar’s consumer solutions portfolio includes the renowned HughesNet®, North America’s top high-speed satellite internet service, and the popular Slingbox® products from Sling Media.
EchoStar's innovations have garnered multiple Emmy Awards, significantly influencing how consumers view, receive, and manage TV programming. Following the merger with Dish Network, satellite television generates the bulk of EchoStar's revenue, serving around 6 million U.S. customers, approximately 10% of the traditional television market. In 2015, the company launched an internet-based television service under the Sling brand, which now serves about 2 million customers.
Recently, EchoStar has focused on expanding its wireless business. The firm has accumulated a substantial portfolio of spectrum licenses over the past 15 years, building a nationwide wireless network. It acquired Sprint's prepaid business, now serving about 7 million customers, mainly under the Boost brand. EchoStar also remains dedicated to its legacy businesses, providing satellite telecom services and equipment to businesses and consumers, including about 1 million internet customers.
EchoStar's recent achievements and projects highlight its continued growth and innovation. On April 26, 2024, Hughes opened a new cutting-edge manufacturing facility and private 5G incubation center in Germantown, Maryland. This facility underscores Hughes' commitment to technological advancement and fostering local talent. It produces high-tech products like the Hughes HT3000W JUPITER™ System satellite modem and the Hughes HL1120W Low Earth Orbit (LEO) satellite terminal. The facility also serves as a testing ground for private 5G solutions for enterprise and secure 5G networking applications critical to the U.S. Department of Defense.
Financially, EchoStar continues to show robust performance. On May 8, 2024, the company announced its first-quarter financial results, highlighting efforts to integrate EchoStar and DISH Network businesses, maximize synergies, and drive operational alignment. The addition of the EchoStar XXIV/Jupiter™ 3 satellite has further enhanced their service offerings, ensuring continued profitability and growth.
Moreover, EchoStar has secured significant government contracts. On May 15, 2024, the company announced it had been awarded an indefinite delivery/indefinite quantity (IDIQ) contract by the U.S. Naval Supply Systems Command's Spiral 4 wireless products and services purchasing program, worth up to $2.7 billion over 10 years. This contract will see Hughes Network Systems and Boost Mobile provide 5G wireless services and devices to support DoD usage in all U.S. states and territories.
Continuing its expansion, EchoStar's Hughes Europe subsidiary announced on June 11, 2024, a strategic initiative to meet the growing demand for high-speed connectivity and secure communications across Europe’s military and government sectors. This initiative involves collaboration with Telespazio, leveraging the Eutelsat Konnect VHTS satellite and Hughes JUPITER terminals to provide high-speed service.
EchoStar’s mission to connect everyone, everywhere remains central to its operations, as it continues to innovate and expand its services in the satellite, television, and wireless industries.
Boost Mobile Network has launched the world’s first nationwide commercial simultaneous 5G four-carrier aggregation (4CC) downlink and two-carrier aggregation (2CC) uplink. This development enhances speeds for customers with compatible devices, such as the Samsung Galaxy S24 family. The network achieved speeds up to 1 Gbps in tests. Carrier aggregation allows Boost to combine more spectrum channels, resulting in greater performance and capacity. The company continues to push technological boundaries, boasting the largest deployment of 5G Voice (VoNR) to over 200 million Americans and 5G broadband service to more than 240 million Americans.
EchoStar Mobile, an EchoStar company (Nasdaq: SATS), has announced a partnership with Swisscom, Switzerland's leading ICT firm, to expand Swisscom's LoRaWAN IoT footprint across Europe. Leveraging satellite connectivity, EchoStar Mobile will support direct sensor-to-satellite operations, while Actility will facilitate seamless network integration between terrestrial and satellite networks through its ThingPark Exchange roaming hub. This collaboration enables Swisscom to offer borderless IoT connectivity, enhancing services for smart metering, environmental monitoring, agriculture, and more. EchoStar Mobile will provide multi-year IoT satellite connectivity services to Swisscom, promising expansive and reliable coverage.
On June 13, 2024, Hughes Network Systems (NASDAQ: SATS) announced that Luna Space Telecommunications under Skyband Holding has purchased a JUPITER System Gateway and 1,200 Hughes JUPITER Terminals. This deal aims to upgrade Skyband's VSAT network, enabling higher speeds, broader coverage, and new mobility services across Saudi Arabia. The upgrade will allow Skyband to penetrate new markets, including government, finance, and oil and gas sectors, and introduce features like SD-WAN. This move is expected to enhance productivity and digital transformation in corporate and government sectors.
Boost Mobile has launched the Celero5G™ SC, a new addition to its exclusive Celero device lineup, offering advanced features at the affordable price of $109.99. The device boasts a 6.6" HD+ display, 50MP dual main cameras, a 5MP front camera, and a long-lasting 5000mAh battery. It supports Boost's 5G network, providing fast download speeds and enhanced call clarity. The Celero5G™ SC is powered by a 2.2GHz octa-core processor, ensuring smooth performance for various tasks. New customers can get the device for free by porting their number, or purchase it for $9.99 on Boost Mobile.com.
Hughes Europe, a subsidiary of Hughes Network Systems and EchoStar (Nasdaq: SATS), has announced its strategic expansion into the Military, Defence, and Government sectors across Europe.
This initiative will address the rising demand for high-speed connectivity and security needs in Intelligence Surveillance and Reconnaissance (ISR) and Beyond Visual Line of Sight (BVLoS) applications.
Led by Troy Truman, the new business unit will offer high-end communication solutions, including Fully Managed Multi-Orbit Network solution software and SDR waveform agnostic ISR terminals.
In collaboration with Telespazio, the companies will leverage the Eutelsat Konnect VHTS satellite built on Hughes JUPITER System series 3, to provide high-speed services across Europe.
The partnership aims to enhance military Command, Control, and Communications, and meet government data needs.
AJet has chosen Turkish Cabin Interiors (TCI) in collaboration with Turksat and Hughes for an advanced In-Flight Connectivity (IFC) solution. Hughes, an EchoStar Company (NASDAQ: SATS), will provide the equipment and connectivity management, while Turksat will supply satellite connectivity. This partnership will enhance Wi-Fi services across AJet's fleet of over 120 aircraft. TCI will leverage its aviation engineering expertise to integrate Hughes' innovative solutions. This collaboration aims to provide AJet passengers with a reliable and high-quality IFC experience. Previously, Hughes was selected by Delta Air Lines in November 2023 to provide Wi-Fi services for more than 400 aircraft in North America.
Hughes Network Systems has unveiled a revolutionary Low Earth Orbit (LEO) Electronically Steerable Antenna (ESA) for In-Flight Entertainment & Connectivity (IFEC) at the Aircraft Interiors Expo (AIX) in Hamburg on May 28, 2024. This new technology promises enterprise-grade, low latency, high-speed connectivity for commercial aviation, significantly enhancing the passenger experience.
The compact, lightweight, and energy-efficient ESA is optimized for the Eutelsat OneWeb LEO system and is built at Hughes' facility in Germantown, Maryland. The first units will be shipped in Q4 2024. The ESA leverages core technology from business aviation and enterprise connectivity for a seamless internet experience in the skies. Hughes aims to set new standards in in-flight connectivity with this launch.
Hughes Network Systems has signed an MoU with Airbus to join the Airbus HBCplus program as a managed service provider (MSP) and Ka-band provider. This collaboration aims to enhance in-flight connectivity (IFC) services for airlines, promising high-speed, reliable connectivity for passengers globally. Hughes, a subsidiary of EchoStar (NASDAQ: SATS), will initially integrate its IFC services into the Airbus network with plans to explore other connectivity architectures such as Ku-band.
Boost Mobile, in collaboration with Coach Prime, has launched the new Coach Prime moto watch 70, available exclusively at Boost Mobile stores starting May 24. Priced at $99.99, this smartwatch combines advanced health and fitness tracking with a stylish design, featuring a gold bezel and black silicone band with PRIME branding. Key features include heart rate monitoring, step counting, sleep tracking, personalized coaching, and weekly motivational messages from Coach Prime. The watch offers an intuitive interface, extended battery life of up to 10 days, and seamless Bluetooth connectivity. This launch follows the successful release of the Coach Prime moto razr in April.
DISH Network and Hughes Network Systems, both EchoStar companies (Nasdaq: SATS), have launched a new bundled service offering that combines DISH satellite TV with Hughesnet satellite internet, aimed at enhancing connectivity and entertainment in rural America.
This collaboration leverages the DISH Hopper whole-home DVR and the JUPITER 3 satellite, offering speeds up to 100 Mbps with unlimited data and powerful Wi-Fi. The bundle is designed to provide quality TV and internet services to rural households, who often face options.
Rural customers who subscribe to both services will receive a $5 monthly discount on each. The initiative aims to improve coverage, performance, and value, positioning the companies strategically to better serve rural communities.
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