Great! Thanks for the answer. It’s Section 8.4.3 100% Mode Operation, page 15:
V IN min = V OUT + I OUT × (R DS(on) max + R L )
where
- I OUT = output current
- R DS(on) max = maximum P-channel switch R DS(on)
- R L = DC resistance of the inductor
Considering I OUT of 150mA and R DS(on) of 430mOhm (high side) gives a drop of 0,06V. I measure 0.6 Ohm at L, so that results in 0.15 * (0.43+0.6) = 0.15V.
I guess, that’s why the MCU starts (lower I), but once the Modem switches on, this gap and the delay caused by L will shut it down again.