Is Elon Musk about to shake up America's mobile phone industry?

SpaceX is reportedly preparing a major expansion of its Starlink business that could bring Elon Musk into direct competition with some of the biggest names in the U.S. wireless market.

According to US media reports, SpaceX is considering launching a Starlink-branded mobile service for consumers while also building its own terrestrial mobile network in the United States. The plans were reportedly shared by SpaceX President Gwynne Shotwell during a recent investor roadshow ahead of a potential initial public offering (IPO).

If the plans move forward, Starlink could challenge established wireless carriers such as Verizon, AT&T and T-Mobile.

SpaceX already offers direct-to-cell satellite connectivity through a partnership with T-Mobile, allowing mobile users to stay connected in remote areas where traditional cellular coverage is unavailable. However, a dedicated Starlink mobile service would mark a significant expansion beyond its current role as a satellite internet provider.

The reported move follows SpaceX's recent acquisition of EchoStar's wireless spectrum licenses in deals valued at nearly $20 billion. The purchases provide the spectrum needed to expand a low-cost direct-to-cell satellite network using EchoStar's wireless frequencies.

Industry analysts believe the expansion could significantly reshape the U.S. telecommunications market. Earlier this month, analysts at Oppenheimer said Starlink's rapid growth puts SpaceX in a strong position to disrupt the country's $1.6 trillion communications industry.

Starlink has become one of SpaceX's fastest-growing businesses, with more than 10 million subscribers worldwide. In addition to providing satellite internet services, the company has recently announced free connectivity for earthquake-affected users in Venezuela while deploying terminals to restore communications in the hardest-hit regions.