SpaceX's New Deal with Qualcomm Aims to Take on Mobile Carriers. History Says It's Going to Be an Uphill Battle.
Space Exploration Technologies (NASDAQ:SPCX) recently announced a new partnership under which Qualcomm (NASDAQ:QCOM) will provide it with the network technology it needs to launch its forthcoming Starlink Mobile cellular carrier service. It has been rumored for a while that Starlink was interested in getting into the mobile carrier business, but the deal with Qualcomm moves the company closer to attempting to directly compete with AT&T (NYSE:T) , Verizon (NYSE:VZ) , and T-Mobile (NASDAQ:TMUS) . But the big three U.S. carriers won't let Starlink steal market share from them without a fight, and if history is any indication, SpaceX has its work cut out for it. Continue reading