Thuraya Revenue up 14 Percent as Satphone Sales Remain Strong
WASHINGTON – Mobile satellite services operator Thuraya of Dubai, United Arab Emirates, posted revenue of $140 million, up 14 percent over 2013 on the strength of continued strong sales of its Satphone handset, Thuraya Chief Executive Samer Halawi said March 18.
Halawi said Thuraya has seen an average 72-percent annual growth in its equipment revenue since 2011 and that its Satphone outsold the company’s innovative Satsleeve product, which allows smartphone users to turn their handsets into a satellite phone for periods when satellite coverage is desired.
The company had about 220,000 subscribers at the end of 2014, Halawi said.
Thuraya’s revenue figures place the company ahead of competitor Globalstar of Covington, Louisiana, which operates a constellation of satellites in geostationary orbit. Thuraya operates three large mobile communications satellites in geostationary orbit.