Considering all the attention given to iPhones, Blackberries, 4G and other mobile phone topics, investors could be forgiven if they have forgotten that satellite phone systems still existed. Judging by the announcement last week that Iridium Communications (Nasdaq:IRDM) had awarded a major contract to build a new satellite network, the business not only still exists, but has money-making potential ahead of it.
The New Deal
On June 2, the satellite phone operator announced that it had awarded a contract for its Iridium NEXT project to a consortium led by France's Thales. The deal, which could be worth in excess of $3 billion, calls for the construction and launch of 72 low-orbit satellites starting in 2015.
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Investing in potentially game-changing technology comes at a cost. By the time you know the winners from the losers, a large percentage of the gains are already in the hands of those investors who stepped up when there were more doubts than answers. On the other hand, investing in these companies is a virtual guarantee of volatility and runs a serious risk of capital loss.
All that said, battery maker A123 (Nasdaq:AONE) in one of those plays that may be worth the risk. Although the stock has been weak lately and first-quarter earnings will not help matters, these are still early days for the company, the technology, and the industry as a whole.
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