IOT will be next emerging market as like Drone for sure. there are hundreds companies and teams are doing and starting.
4 big segment areas as "Sensing" + "connectivity(wireless PHY)" + "big data processing" + "applications".
QCOM can do well in connectivity portion, but doubt if it has a competition on sensing, big data processing, unique applications and ideas..not sure...
QCOM could start to jump to create new unique ideas, One big problem is that current team / organization's structure as horizontal core merging is aiming to mass production of chips . It would not work for new business as IOT, Automotive...for segmented business divisions, because it should be in various products with flexibility and vertical team merged. need a change of that structure.
We can create a company self-image as helping and contributing industries, communities, nations, and worldwide people life.
That could be also a big challenge.