30. Jun 2026
Description
(AWP Alliance News) - Shares in US telecom firms fell on Monday after a report said that Space Exploration Technologies Corp plans to launch a new Starlink mobile service for US consumers.
The Financial Times said SpaceX's President and Chief Operating Officer Gwynne Shotwell told investors during a recent initial public offer roadshow that the group was considering launching a Starlink retail product and could build its own terrestrial US mobile network, citing four people familiar with the matter.
The move would require Starlink to build a new retail offering by selling mobile contracts to individual customers, competing directly with the three big US network operators Verizon Wireless, part of Verizon Communications Inc, AT&T Inc and T-Mobile US Inc.
On Monday, T-Mobile fell 4.8% to USD173.97, Verizon declined 5.2% to USD44.10 and AT&T dipped 4.0% to USD21.82.
To date, SpaceX has offered more limited direct-to-consumer services in the US, preferring to give telecoms groups such as T-Mobile access to its satellites to supplement their existing network coverage in rural areas, the report said.
Analysts believe Starlink takes a cut from revenues generated by those customers whose mobile deals include access to its satellites.
A direct-to-consumer mobile offering would give SpaceX access to a far larger market than satellite broadband alone, potentially reducing its reliance on telecoms partners that currently act as intermediaries between Starlink's satellites and end users, the FT added.
SpaceX closed up 7.2% at USD164.19 each on Monday in New York, above the USD135.00 initial public price.
Elon Musk's space and AI technology company started trading earlier this month after its record breaking IPO.
By Jeremy Cutler, Alliance News reporter
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