Businessman Mel Velarde’s Now Group of Companies signed a memorandum of understanding with Finnish tech giant Nokia to roll out a standalone 5G network in the Philippines.
The deal, which covers publicly listed Now Corp. and affiliate Now Telecom, paves the way for the use of Nokia’s network equipment and to explore “appropriate use cases of the 5G technology” in the country.
5G is the next-generation mobile standard offering ultrafast internet speeds and minimal lag times. PLDT Inc. and Globe Telecom have rolled out 5G on a smaller scale given the significant cost of building a brand-new network and the limited availability of affordable 5G devices.
Velarde, Now chair and found…
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