Word: telecom
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Dates: during 1990-1990
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While Motorola stands ready to supply the handsets (initial price: $3,500 apiece), the company will need investment partners to finance the estimated $2.3 billion cost of building and launching the network of 700-lb. satellites. The firm is negotiating a joint venture with British Telecom, as well as with potential investors in Japan, Australia and Hong Kong. Motorola estimates that Iridium will need 700,000 users to become profitable. While that is roughly equivalent to the Pittsburgh white pages, it is less than 1% of the 100 million people around the world who are expected to be using cellular...