NOW TELECOM Co., Inc. said Monday it is planning to offer fifth-generation (5G) services in the country, in order to keep up with telecommunications giants PLDT, Inc. and Globe Telecom, Inc.
The subsidiary of Velarde-led Now Corp. said in a statement its board had recently approved the adoption of 5G technology for enterprises and homes, which will render speeds of up to 20 gigabits per second (Gbps).
“The Decentralized Gigabit Era is upon us now. 5G will allow high wireless bandwidth in low latency scenarios, allowing for further complex technologies to exist. 5G is necessary for the Internet of Things to thrive. With cloud computing, you can now decentralize the business of telecommunications,” Now Telecom President Rodolfo P. Pantoja was quoted as saying.
The company noted the recent appointment of Mr. Pantoja is part of its strategy to improve its footing as a telecommunications firm in the country. Mr. Pantoja was the chief executive officer of Indonesia’s PT Smartfren Telecom Tbk, which is known for its fourth-generation (4G) long-term evolution (LTE) advanced network.
PLDT and its wireless unit Smart Communications, Inc. have fired up its first two 5G cell sites in late 2018, while Globe is scheduled to launch its 5G network for the home this month.
Aside from its 5G plans, Now Telecom also said its board of directors approved an 11% share swap with its parent Now Corp., which will increase the company’s share in Now Telecom to 30%.
“This will satisfy the congressional franchise requirement for Now Telecom to have the public own at least 30% of the company,” it said, referring to its franchise that was renewed in February last year. — Denise A. Valdez