Cost of SpaceX Starlink Dish 'decreasing rapidly,' Elon Musk says
The cost per dish is $499
Elon Musk said Sunday that the cost of the SpaceX Starlink satellite dish is "decreasing rapidly," at least temporarily.
Musk's comments came in response to a tweet claiming that the aerospace company was selling its satellite dish at a "much lower price than what it costs to make."
CLICK HERE TO READ MORE ON FOX BUSINESS
"For now. Costs are decreasing rapidly," he tweeted.
The SpaceX founder and chief executive plans to launch thousands of these satellites in an effort to provide global internet service especially in areas where "connectivity has typically been a challenge."
As of now, Starlink is delivering initial beta service both domestically and internationally with plans to "continue expansion to near global coverage of the populated world in 2021."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
According to its website, the dish costs an initial $499 although there is a $99 service fee every month for WiFi.
However, manufacturing technology costs around $1,500, according to multiple reports.
Taking that into account, the company is already losing $500 for each dish ordered.
In February, Musk tweeted that "SpaceX needs to pass through a deep chasm of negative cash flow" in order to make it "financially viable."
SpaceX is among several companies looking to provide high-speed, reliable internet service around the world, especially in places where it’s hard to get or too expensive. Others include Jeff Bezos’ Amazon and OneWeb.
The Associated Press contributed to this report.