Qualcomm Ends Its Satellite-to-Phone Partnership With Iridium

U.S. semiconductor giant Qualcomm ended its partnership with satellite communications company Iridium to provide satellite-to-phone services, Iridium announced on Thursday.

Iridium stock fell more than 8% in after-hours trading from its close at $37.14 a share

The company said that while the parties “successfully developed and demonstrated the technology,” smartphone makers “have not included the technology in their devices,” leading Qualcomm to end the agreement.

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