Amazon Delays First Internet Satellite Launch
Technology giant Amazon (AMZN) has delayed the launch of its first Kuiper internet satellites due to poor weather conditions.
A rocket carrying 27 satellites was set to take flight into Earth’s orbit from Cape Canaveral, Florida but was shutdown due to heavy cloud cover and strong winds.
The canceled launch puts a damper on Amazon’s ambitions to build a constellation of satellites in low Earth orbit that can provide wireless internet service.
Amazon has long had an ambition to sell high-speed internet service to consumers, corporations and governments. Commercial service is expected to come online this year.
Amazon is setting itself up to compete directly with Elon Musk’s SpaceX, the dominant player in the market with 8,000 internet satellites already in orbit above the Earth.
Amazon is racing to meet a deadline set by the Federal Communications Commission (FCC) that requires the company to have half of its 1,618 internet satellites in place by July 2026.
Once it completes the first satellite launch, Amazon expects to ramp up its production, processing and deployment rates.
It’s not immediately clear when the first satellite launch has been rescheduled for. The stock of Amazon has declined 13% so far this year to trade at $191.10 U.S. per share.
