China’s Answer to U.S. GPS Extends Service Beyond Asia Pacific

China’s alternative to the American-owned GPS extended its coverage beyond the Asia-Pacific region with a goal of becoming a dominating technology in the future, spurring gains in shares of related companies.

Called Beidou, the service works like GPS, using a series of satellites to provide users precision positioning with an error of about 10 meters. Most smartphone chips sold globally will be compatible with Beidou, the first navigation system to have built-in telecommunications features such as text messaging.

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