NOW Corp. and its affiliate NOW Telecom, obviously aspiring to become the next major telecom player in the Philippines, has forged an agreement with Finnish firm Nokia to strengthen its fifth-generation (5G) services in the country.
In a disclosure to the Philippine Stock Exchange on Wednesday, the listed company said the NOW Group has inked a memorandum of understanding with Nokia to help expand their broadband telecom network with the deployment of 5G standalone systems.
“NOW’s strategy is clear: to expand its current guaranteed service to high-end markets via 5G Fixed Wireless Access (FWA) and extend this compelling customer experience to consumers via 5G mobile cellular broadband service,” said Mel V. Velarde, founder and chairman of the NOW Group of Companies, in the disclosure.
He said the partnership with Nokia will allow his group to establish a firmer foothold in the broadband space, adding the deal “shall bring about the multi-gigabit broadband internet era in the Philippine telecom, media and technology markets.”
“Having no legacy networks, NOW’s Standalone 5G Network shall rise above competition,” Velarde added.
NOW Telecom earlier revealed that it plans invest about $713 million for its five-year 5G fixed wireless access business plan, and deploy 5G FWA network in Metro Manila and offer a broadband plan of up to 10 gigabit per second service.
The company’s is eyeing a stronghold in the business enterprises, high-density residential areas, high-end residential homes, and high-rise buildings segments of the local telecom market. CURRENTPH