AdvanceTC Limited (OTCMKTS:ATCLF) jumped 95% after announcing the final stage of the launch of the X7U product, which with the first one-of-its-kind satellite android phone.Satellite communication is based on a satellites network fixed above the equator or in low Earth Orbit.
Interestingly then X7U will be able to connect to the Iridium network of 66 Low Earth Orbit satellites offering almost 100% earth coverage. With a growing focus on rocket launches to get satellites into space, the satellites will need transceivers on Earth to receive and send data and utilize the new bandwidth.
As a result, AdvanceTC’s smartphone has the capability of an inbuilt receiver. The company is looking at a market where people use a smartphone to access several communication modes from a device besides satellite internet. AdvanceTC’s growth is focusing on marketing phones and offering services that improve client’s communications. Therefore, with the first-ever android satellite phone, ATCLF is worth keeping an eye on in the coming months.
Market Reaction:
On Friday, ATCLF stock soared 95% at $0.39 with more than 998k shares, compared to its average volume of 41k shares. The stock has moved within a range of $0.1950 – 0.4200 after opening the trade at $0.20.
