Now Corp. and Now Telecom Company Inc. have tapped Finnish technology player Nokia for the development of its 5G network in the Philippines.
According to a filing to the stock exchange, the Now Group has signed a memorandum of understanding with Nokia that provides for the “expansion” of Now’s current broadband network through 5G standalone technologies.
The agreement also provides for the creation of a commercial framework agreement through the development of various 5G use cases that may be applicable to the Philippine market.
“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,” Mel V. Velarde, Founder and Chairman of the Now Group of Companies, said.
He added that Now’s 5G standalone network will deliver “enhanced mobile broadband and ultra-low latency” that may support augmented and virtual reality applications, 8K video streaming, and other use cases for enterprise, government, and households.
“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,” Velarde said.
Nokia currently has 133 commercial 5G contracts worldwide.
“We’re delighted to support Now in realizing the full vision of 5G. 5G standalone, with its high speed, low latency performance and edge computing will enhance business processes, bring new applications and benefits to consumers, and the wider industry,” said Andrew Cope, Country Manager for Nokia Philippines.
“We’re confident that our market-leading technology will play a crucial role in setting the right conditions for 5G to become a success in the Philippines.”