Connect with us

Hi, what are you looking for?

Economy

NOW Corp., Nokia ink deal on 5G collaboration

NOW CORP. on Wednesday said it signed a memorandum of understanding with Nokia Solutions and Networks Philippines, Inc. and NOW Telecom Company, Inc. for its network expansion plan.

In a statement, the listed firm said the collaboration among the three companies would focus on the expansion of its “current broadband telecom network by rolling out a 5G standalone network in the Philippine market.”

“Joint development projects may also be undertaken under the scope of the memorandum of understanding, which also provides a strategic direction for all parties leading to a commercial framework agreement,” it added.

Mel V. Velarde, founder and chairman of the NOW Group of Companies, said: “This NOW-Nokia agreement on 5G collaboration shall bring about the multi-gigabit broadband Internet era in the Philippine Telecom, Media and Technology markets”

“NOW’s strategy is clear: to expand its current guaranteed service to high-end markets via 5G Fixed Wireless Access and extend this compelling customer experience to consumers via 5G mobile cellular broadband service. Having no legacy networks, NOW’s standalone 5G network shall rise above competition. With Nokia as our technology partner, we are confident NOW and its customers would succeed,” he added.

In an earlier disclosure, Now Corp. said it had partnered with Vietnam’s Viettel Business Solutions Corp. to offer information and communications technology (ICT) products and services in the country.

NOW Corp. affiliate Now Telecom Co., Inc. announced in September that the National Telecommunications Commission had “extended” its provisional authority to install, operate, and maintain a nationwide mobile telecommunications system. — Arjay L. Balinbin

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

PHILIPPINE SHARES may move sideways this week amid an expected rate hike by the Bangko Sentral ng Pilipinas (BSP) at its Aug. 18 meeting...

Economy

THE PESO may strengthen this week on expectations that the central bank will raise benchmark rates anew at its meeting on Thursday.  The local...

Economy

THE Philippine Economic Zone Authority (PEZA) said it considers a downgraded investment growth target for 2022 of 6-7% to be within reach after investment...

Economy

NORWAY’s ambassador said the Philippines is a potential destination for Norwegian businesses, but their interest in renewable projects here will depend on the industry’s...

Economy

THE government’s chief economic planner said the Philippines must minimize its exposure in case the geopolitical situation deteriorates, with analysts citing the potential of...

Economy

THE new president of the Bases Conversion and Development Authority (BCDA) is a career official in the agency and the first woman to head...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

Instagram still holds the top spot for social media in terms of building brand reputation and expanding business potential. Every day, more and more...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.