NOW Telecom, a telecom operator owned by businessman Mel Velarde, has announced plans to offer 5G services in Philippines.
NOW Telecom holds a license from National Telecommunications Commission to operate 5G services in mid band channels. The company has deployed in selected areas TELRAD wireless technology that delivers 200 Mbps to its customers, which will soon increase to gigabit speeds.
Newly elected NOW Telecom president Rodolfo Pantoja said, “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.”
In order to strengthen its portfolio to seize greater opportunities from 5G, NOW Telecom’s board of directors has also approved to offer publicly listed NOW Corporation an additional 11 percent for share swap with NOW Telecom, which will result in NOW Corporation owning 30 percent of NOW Telecom. This will satisfy the congressional franchise requirement for NOW Telecom to have the public own at least 30 percent of the company.