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CUSIP No. 885535104                    13G                     Page 1 of 8 Pages
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Schedule 13G
                                 (Rule 13d-102)

   Information to be Included in Statements Filed Pursuant to Rules 13d-1(b),
                (c) and (d) and Amendments Thereto Filed Pursuant
                                to Rule 13d-2(b)
                                (Amendment No. )*

                                3COM CORPORATION
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    885535104
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                  July 14, 2008
--------------------------------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

|_|   Rule 13d-1(b)

|X|   Rule 13d-1(c)

|_|   Rule 13d-1(d)

--------------
      *The  remainder  of this cover  page  shall be filled out for a  reporting
person's  initial  filing on this  form with  respect  to the  subject  class of
securities,  and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

      The information  required in the remainder of this cover page shall not be
deemed to be "filed"  for the purpose of Section 18 of the  Securities  Exchange
Act of 1934 (the "Act") or otherwise  subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).



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CUSIP No. 885535104                    13G                     Page 2 of 8 Pages
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================================================================================
     1     NAMES OF REPORTING PERSONS

           Silver Point Capital, L.P.
--------------------------------------------------------------------------------
     2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) |_|

                                                                      (b) |_|
--------------------------------------------------------------------------------
     3     SEC USE ONLY

--------------------------------------------------------------------------------
     4     CITIZENSHIP OR PLACE OF ORGANIZATION

                      Delaware
--------------------------------------------------------------------------------
      NUMBER OF     5      SOLE VOTING POWER

       SHARES                   22,500,000 (See Item 4)
                    ------------------------------------------------------------
    BENEFICIALLY    6      SHARED VOTING POWER

      OWNED BY                  -0-
                    ------------------------------------------------------------
        EACH        7      SOLE DISPOSITIVE POWER

      REPORTING                 22,500,000 (See Item 4)
                    ------------------------------------------------------------
       PERSON       8      SHARED DISPOSITIVE POWER

        WITH                    -0-
--------------------------------------------------------------------------------
     9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                      22,500,000                             (See Item 4)
--------------------------------------------------------------------------------
    10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                             |_|
--------------------------------------------------------------------------------
    11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                      5.6%(1)
--------------------------------------------------------------------------------
    12     TYPE OF REPORTING PERSON*

                      IA, PN
--------------------------------------------------------------------------------

* SEE INSTRUCTIONS BEFORE FILLING OUT.

(1)   The  percentages  used  herein  and in the rest of this  Schedule  13G are
      calculated based upon 403,179,447 shares of Common Stock outstanding as of
      March 28, 2008 pursuant to the Company's quarterly report on Form 10-Q for
      the period ended February 29, 2008.



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CUSIP No. 885535104                    13G                     Page 3 of 8 Pages
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================================================================================
     1     NAMES OF REPORTING PERSONS

           Edward A. Mule
--------------------------------------------------------------------------------
     2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                      (a) |_|

                                                                      (b) |_|
--------------------------------------------------------------------------------
     3     SEC USE ONLY

--------------------------------------------------------------------------------
     4     CITIZENSHIP OR PLACE OF ORGANIZATION

                      United States
--------------------------------------------------------------------------------
      NUMBER OF     5      SOLE VOTING POWER

       SHARES                   -0-
                    ------------------------------------------------------------
    BENEFICIALLY    6      SHARED VOTING POWER

      OWNED BY                  22,500,000 (See Item 4)
                    ------------------------------------------------------------
        EACH        7      SOLE DISPOSITIVE POWER

      REPORTING                 -0-
                    ------------------------------------------------------------
       PERSON       8      SHARED DISPOSITIVE POWER

        WITH                    22,500,000 (See Item 4)
--------------------------------------------------------------------------------
     9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                22,500,000           (See Item 4)
--------------------------------------------------------------------------------
    10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                             |_|
--------------------------------------------------------------------------------
    11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                                5.6%
--------------------------------------------------------------------------------
    12     TYPE OF REPORTING PERSON*

                      IN
================================================================================

* SEE INSTRUCTIONS BEFORE FILLING OUT.




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CUSIP No. 885535104                    13G                     Page 4 of 8 Pages
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================================================================================
     1     NAMES OF REPORTING PERSONS

           Robert J. O'Shea
--------------------------------------------------------------------------------
     2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                      (a) |_|

                                                                      (b) |_|
--------------------------------------------------------------------------------
     3     SEC USE ONLY

--------------------------------------------------------------------------------
     4     CITIZENSHIP OR PLACE OF ORGANIZATION

                      United States
--------------------------------------------------------------------------------
      NUMBER OF     5      SOLE VOTING POWER

       SHARES                   -0-
                    ------------------------------------------------------------
    BENEFICIALLY    6      SHARED VOTING POWER

      OWNED BY                  22,500,000 (See Item 4)
                    ------------------------------------------------------------
        EACH        7      SOLE DISPOSITIVE POWER

      REPORTING                 -0-
                    ------------------------------------------------------------
       PERSON       8      SHARED DISPOSITIVE POWER

        WITH                    22,500,000 (See Item 4)
--------------------------------------------------------------------------------
     9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                      22,500,000 (See Item 4)
--------------------------------------------------------------------------------
    10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                             |_|
--------------------------------------------------------------------------------
    11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                      5.6%
--------------------------------------------------------------------------------
    12     TYPE OF REPORTING PERSON*

                      IN
================================================================================

* SEE INSTRUCTIONS BEFORE FILLING OUT.




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CUSIP No. 885535104                    13G                     Page 5 of 8 Pages
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Item 1(a)   Name of Issuer:

            The name of the issuer is 3Com Corporation (the "Company").

Item 1(b)   Address of Issuer's Principal Executive Offices:

            The Company's  principal  executive  office is located at 350 Campus
Drive, Marlborough, MA, 01752.

Item 2(a)   Name of Person Filing:

            This Schedule 13G is being  jointly  filed by Silver Point  Capital,
L.P., a Delaware limited partnership (the "Investment  Manager"),  Mr. Edward A.
Mule and Robert J. O'Shea with respect to the  ownership of the shares of Common
Stock by Silver Point Capital  Fund,  L.P. (the "Fund") and Silver Point Capital
Offshore Fund, Ltd. (the "Offshore Fund").(2)

            The  Reporting  Persons have entered into a Joint Filing  Agreement,
dated July 24, 2008, a copy of which is filed with this  Schedule 13G as Exhibit
A,  pursuant to which the Reporting  Persons have agreed to file this  statement
jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act.

Item 2(b)   Address of Principal Business Office or, if none, Residence:

            The  address  of  the  principal  business  office  of  each  of the
Reporting Persons is Two Greenwich Plaza, Greenwich, CT 06830.

Item 2(c)   Citizenship:

            Silver Point  Capital,  L.P. is  organized as a limited  partnership
under the laws of the State of Delaware.  Both Mr. Mule and Mr.  O'Shea are U.S.
citizens.

Item 2(d)   Title of Class of Securities:

            Common Stock

Item 2(e)   CUSIP No.:

            885535104

----------
(2)   Silver Point Capital,  L.P. is the investment  manager of the Fund and the
      Offshore  Fund  and by  virtue  of such  status  may be  deemed  to be the
      beneficial  owner of the  shares of Common  Stock held by the Fund and the
      Offshore Fund. Silver Point Capital Management,  LLC ("Management") is the
      general  partner  of Silver  Point  Capital,  L.P.  and as a result may be
      deemed to be the  beneficial  owner of the shares of Common  Stock held by
      the Fund and the Offshore  Fund.  Each of Mr.  Edward Mule and Mr.  Robert
      O'Shea is a member of Management and has voting and investment  power with
      respect  to the shares of Common  Stock held by the Fund and the  Offshore
      Fund and may be deemed to be a  beneficial  owner of the  shares of Common
      Stock held by the Fund and the Offshore Fund. Silver Point Capital,  L.P.,
      Management,  and Messrs. Mule and O'Shea disclaim beneficial  ownership of
      the shares of Common Stock held by the Fund and the Offshore Fund,  except
      to the extent of any  pecuniary  interest,  and this  report  shall not be
      deemed  to be an  admission  that they are the  beneficial  owners of such
      securities.



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CUSIP No. 885535104                    13G                     Page 6 of 8 Pages
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Item 3      If this statement is filed pursuant to Rules 13d-1(b), or  13d-2(b),
            check whether the person filing is a:

            Not Applicable.

Item 4      Ownership:

            A.    Silver Point Capital, L.P.

                  (a)   Amount beneficially owned: 22,500,000

                  (b)   Percent of class: 5.6%

                  (c)   Number of shares as to which such person has:

                        (i)   Sole power to vote or direct the vote: 22,500,000

                        (ii)  Shared power to vote or direct the vote: -0-

                        (iii) Sole power to  dispose or direct the  disposition:
                              22,500,000

                        (iv)  Shared power to dispose or direct the disposition:
                              -0-

            B.    Edward A. Mule

                  (a)   Amount beneficially owned: 22,500,000

                  (b)   Percent of class: 5.6%

                  (c)   Number of shares as to which such person has:

                        (i)   Sole power to vote or direct the vote: -0-

                        (ii)  Shared   power  to  vote  or   direct   the  vote:
                              22,500,000

                        (iii) Sole power to  dispose or direct the  disposition:
                              -0-

                        (iv)  Shared power to dispose or direct the disposition:
                              22,500,000

            C.    Robert J. O'Shea

                  (a)   Amount beneficially owned: 22,500,000

                  (b)   Percent of class: 5.6%

                  (c)   Number of shares as to which such person has:

                        (i)   Sole power to vote or direct the vote: 0

                        (ii)  Shared   power  to  vote  or   direct   the  vote:
                              22,500,000

                        (iii) Sole power to dispose or direct the disposition: 0

                        (iv)  Shared power to dispose or direct the disposition:
                              22,500,000



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CUSIP No. 885535104                    13G                     Page 7 of 8 Pages
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Item 5      Ownership of Five Percent or Less of a Class:

            If this  statement  is being filed to report the fact that as of the
date hereof each of the Reporting  Persons has ceased to be the beneficial owner
of more than five percent of the class of securities, check the following [ ].

Item 6      Ownership of More Than Five Percent on Behalf of Another Person:

            See response to Item 4.

Item 7      Identification  and  Classification of the Subsidiary Which Acquired
            the  Security  Being  Reported on by the Parent  Holding  Company or
            Control Person:

            Not applicable.

Item 8      Identification and Classification of Members of the Group:

            Not applicable.

Item 9      Notice of Dissolution of Group:

            Not applicable.

Item 10     Certification:

            By signing  below I certify  that,  to the best of my knowledge  and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as participant in any transaction having that purpose or effect.



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CUSIP No. 885535104                    13G                     Page 8 of 8 Pages
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                                    SIGNATURE

      After  reasonable  inquiry and to the best of my knowledge  and belief,  I
certify that the information  set forth in this statement is true,  complete and
correct.

Date: July 24, 2008

                                              Silver Point Capital, L.P.

                                              By:   /s/ Frederick H. Fogel
                                                    ----------------------------
                                              Name: Frederick H. Fogel

                                              Its:  Authorized Signatory



                                    Exhibit A

              AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G

The undersigned hereby agree as follows:

      (i) Each of them is individually eligible to use the Schedule 13G to which
this  Exhibit is attached,  and such  Schedule 13G is filed on behalf of each of
them; and

      (ii) Each of them is  responsible  for the timely  filing of such Schedule
13G and any amendments  thereto,  and for the  completeness  and accuracy of the
information  concerning  such  person  contained  therein;  but  none of them is
responsible for the  completeness or accuracy of the information  concerning the
other  persons  making the filing,  unless  such  person  knows or has reason to
believe that such information is inaccurate.

Date: July 24, 2008

                                              Silver Point Capital, L.P.

                                              By:   /s/ Frederick H. Fogel
                                                    ----------------------------
                                              Name: Frederick H. Fogel

                                              Its:  Authorized Signatory


                                              /s/ Edward A. Mule
                                              ----------------------------------
                                              Edward A. Mule, individually

                                              /s/ Robert J. O'Shea
                                              ----------------------------------
                                              Robert J. O'Shea, individually