The National Geographic Daily News highlights the recent research of UCLA geophysicist Yuri Shprits who shows that, though they can withstand the average solar explosion, low-Earth orbiting (LEO) satellites might be severely damaged by a solar megastorm. 

Specifically, if the Earth's atmosphere were hit by a powerful surge of solar energy and particles, it would be flooded with high-energy electrons that would hinder the operation of these satellites.  The megastorm could reduce the lifetime of an LEO satellite by a factor of ten. 

http://news.nationalgeographic.com/news/2011/09/110920-sun-megastorm-satellites-space-weather-science/