For the first time, three former Qualcomm executives including Paul Jacobs, former CEO and chairman are launching a new wireless tech startup named XCOM. However, the company will focus on 5G wireless technology but still doesn’t have a business plan. The company’s main objective is to keep inventing in the wireless industry.
The source’s information stated that Jacobs will serve as CEO of the startup, however, Derek Aberle and Matthew Grob will join the company. From 2011 to 2017, Matthew Grob served as Qualcomm’s chief technology officer.
Aberle said in an interview, “It’s unclear where the take-private plan will go or how long that will take.” Further, he added, “But this is not an either/or. We are pursuing this new company and we have high expectations and confidence in the take-private plan.”
It is crystal clear that the start-up engineering firm eyes on engineering innovation where founders believe is lacking in the industry. Most of the wireless firms such as Ericsson, Qualcomm are under increasing pressure to manage their costs.
Jacobs new company doesn’t interrupt plans to take Qualcomm private. He is working with Aberle to raise billions for a theoretical Qualcomm acquisition.
Aberle said, “There’s still a fair amount of work that needs to be done to prove out the applicability of 5G through the various Internet of Things applications.” Further, he added, “We feel we have some better ideas for how to do some of that stuff.”