What’s going on here?
Amazon and telecommunications firm Vrio are teaming up to launch a satellite internet service for South America, targeting countries like Argentina, Brazil, and Chile.
What does this mean?
Amazon’s Project Kuiper, spearheaded by an ex-Starlink employee, is set to deploy 3,236 low Earth orbit satellites to offer reliable internet access. This service aims to reach around 200 million people in South America who currently have limited or no internet access, according to World Bank estimates. Vrio, which manages DirecTV and Sky Brasil in Latin America, will handle distribution. Scheduled to launch in mid-2025, starting with Argentina, this initiative represents Amazon’s $10 billion bid to capture market share from Elon Musk’s Starlink.
Why should I care?
For markets: South America’s digital revolution.
This partnership could ignite a surge in digital connectivity across South America. With substantial market potential, investors should look out for opportunities in telecom stocks, broadband technology, and related infrastructure sectors that might benefit from this new competitive landscape.
The bigger picture: Connecting the disconnected.
Achieving universal internet access is a significant milestone for global connectivity. This project highlights a broader trend of tech giants investing heavily in digital infrastructure, aiming to bridge the urban-rural internet access gap worldwide.
Source link : https://finimize.com/content/amazon-and-vrio-team-up-to-launch-satellite-internet-in-south-america
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Publish date : 2024-06-13 00:56:28
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