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Does anyone know of any company that is using CubeSats for telecommunication services or is this a new idea not yet implemented into the commercial arena?

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It depends on what you mean by Telecom.

Amsat has a two-way radio transponder cubesat, called Fox. , for amateur radio operators.

AIS signals from ships can be received and retransmitted.

There are other applications that are on going as well, although these are the two projects with which I am familiar.

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