Former Qualcomm Chairman, Paul Jacobs recently launched a wireless startup called XCOM. The company plans on focusing on advancing wireless technology, specifically in the 5G sector. Along with Jacobs, two former Qualcomm executives, Derek Aberle and Matthew Grob have also joined the company.
While a solid business model still hasn’t been laid out, Aberle confirmed in an interview with CNBC that the company will try to tackle important 5G problems, especially around latency and reliability. The company is also expected to license its proprietary 5G technology or provide software solutions to other companies that can be used in their semi-conductors. The three executives also plan on expanding the company’s workforce in coming months.
Initial plans of the company also seem to be working towards a smoother implementation of 5G. Aberele said in the interview, “There’s still a fair amount of work that needs to be done to prove out the applicability of 5G through various Internet of Things applications,” further stating, “We feel we have some better ideas for how to do some of that stuff.”
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That said, Aberele also confirmed that the new company does not intervene with Paul Jacob’s intentions of buying out Qualcomm, and taking the company private. Both Jacobs and Aberele seem to be working on that separately. They are trying to raise funds from private investors to acquire Qualcomm. However, those plans seem to have slowed down at the moment. It also looks like a long way to go, as the company is currently valued at $90 billion (approximately Rs 60,000 crore).