EchoStar Secures Naval Contract To Provide 5G Smart Devices And Services
Portfolio Pulse from Akanksha Bakshi
EchoStar Corporation (NASDAQ:SATS) has secured a significant contract under the U.S. Naval Supply Systems Command’s Spiral 4 program to provide 5G wireless services and devices. The contract, which could be worth up to $2.7 billion over the next decade, will see EchoStar's subsidiaries Hughes Network Systems and Boost Mobile supplying 5G services and devices across the U.S. and for international travel on temporary duty.
May 15, 2024 | 2:20 pm
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EchoStar Corporation has secured a major contract under the U.S. Naval Supply Systems Command’s Spiral 4 program to provide 5G wireless services and devices. This contract could be worth up to $2.7 billion over the next decade, significantly boosting EchoStar's revenue and market position in the 5G space.
The contract with the U.S. Navy's Spiral 4 program is a significant win for EchoStar, potentially bringing in up to $2.7 billion over the next decade. This will likely boost the company's revenue and strengthen its position in the 5G market, positively impacting its stock price in the short term.
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