Now Telecom Company, Inc.<br>(NOW Telecom)

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Now Telecom Company, Inc.
(NOW Telecom)
Private
ISIN🆔
IndustryTelecommunications
Predecessor
  • Satellite Paging Systems Philippines (1992–c.2000s)
  • Next Mobile Incorporated (c.2000s)
  • Infocom Communications Network (c.2000s–2013)
Founded 📆1992; 30 years ago (1992)
Founder 👔
Headquarters 🏙️NOWPlanet.tv Bldg., España Blvd., Sampaloc,
Manila, Metro Manila
,
Area served 🗺️
Key people
  • Mel Velarde (Chairman)
  • Engr. Rene L. Rosales (President)
Services
  • Broadband internet
  • Fiber-optic communication
Owner
  • Now Corporation (30%)[1]
  • Minorities and other stakeholders (70%)
Members
Number of employees
🌐 Websitewww.now-telecom.com
📇 Address
📞 telephone

Now Telecom Company, Inc. (stylized as NOW Telecom) is a telecommunications firm based in the Philippines. The company provides broadband and fiber-optic communication services to upper-class residential and commercial areas in Metro Manila under the Now Fiber Air brand. The firm, along with Now Corporation (Now Corp) and News and Entertainment Network Corporation (NEWSNET), formed the unified Now Network service.

In 2020, Now Telecom officially enters as the fourth major telecommunications provider in the country alongside rivals PLDT/Smart Communications, Globe Telecom and Dito Telecommunity.

History[edit]

Now Telecom was founded in 1992 as Satellite Paging Systems Philippines when the congress granted a franchise to operate radio paging.[2] Its franchise was later amended in 1995.[3] The company began operating as Next Mobile Incorporated (NMI/Next Mobile), and since then, has under the ownership of the Velarde Group headed by former Sky Cable's executive Mel Velarde.

In 2005, a partial stake in NMI was acquired by Cashrounds, which Velarde took over the ownership of the company's shareholding stake.[4] The following year, Cashrounds changed its corporate name to Information Capital Technology Ventures, Inc. (ICTV).[5][6] NMI received a provisional authority license to operate cellular mobile telephony services (CMTS), but had never obtained any cellular frequencies.[7]

In the late 2000s, Next Mobile was renamed as Infocom Communications Network.[citation needed]

In 2013, ICTV was officially renamed as Now Corporation (Now Corp). Infocom would later adapted the parent firm's operations under the Now Telecom brand, replacing Next Mobile.[8]

In 2018, Now Telecom's parent Now Corp decided not to submit the bid for the country's third telecommunications provider,[9] but the congressional franchise of the firm was renewed on the same year.[1][10]

In 2019, Now Corp inked a joint partnership with South Korean telecommunications firm SK Telecom for the rollout of Now Telecom's 5G broadband services and becoming the 4th major telecommunications player in the Philippines.[11][12][13]

On September 21, 2020, the National Telecommunications Commission (NTC) granted Now Telecom a provisional authority to operate as the fourth major telecommunications provider in the Philippines.[14][15][16]

On October 2, 2020, NOW Corporation and Viettel Business Solutions Corporation (a member of Viettel Group) entered into a Memorandum of Understanding to develop market opportunities and to provide Information Communication and Technology products and services in the Philippines. This makes the Philippines Viettel’s 11th overseas market when it comes to its ICT business portfolio.[17]

On December 1, 2020, NOW Corporation inked a joint the partnership with Finnish multinational telecommunication Nokia for the rollout of Now telecom's 5G broadband services.[18][19]

Service areas[edit]

As of 2020, Now Telecom's service area currently covers only high-rise residences, condominiums, and commercial office buildings in urban areas within Metro Manila.[citation needed]

Ownership[edit]

Now Corporation owns the majority stake at 30% in Now Telecom.[1]

References[edit]

  1. 1.0 1.1 1.2 "NOW Telecom offers 11% more shareholdings to affiliate company". GMA News. 3 June 2019.
  2. "Republic Act No. 7301". March 26, 1992.
  3. "Republic Act No. 7940". March 1995.
  4. "Next Mobile shareholder acquires two-thirds stake in publicly-listed Cashrounds". The Philippine Star. 22 March 2005.
  5. "Cashrounds changes name, hikes capital stock to P1.3B". The Philippine Star. 23 September 2006.
  6. "ICTV plans transfer to the PSE's Second Board". GMA News. 4 December 2008.
  7. Amolejar, Darwin (10 August 2016). "Now Telecom wants to challenge PLDT, Globe". Manila Standard.
  8. "Now poised to revitalize operations". Philippine Daily Inquirer. 24 January 2015.
  9. "NOW Corp holds off on third telco bid". ABS-CBN News. 7 November 2018. Retrieved 12 November 2018.
  10. Camus, Miguel (23 February 2018). "Now Telecom gets franchise extension until 2043". Philippine Daily Inquirer.
  11. "Now partners with leading Korean telco SK Telecom for 5G pivot". Manila Bulletin. 30 October 2019.
  12. "Now Corp teams up with Seoul's SK Telecom for rollout of 5G tech". Business Mirror. 29 October 2019.
  13. "NOW Telecom regains license as telco player in PH". CNN Philippines. 9 September 2019.
  14. Gonzales, Catherine (21 September 2020). "NOW Telecom gets provisional extension to operate as '4th telco'". Philippine Daily Inquirer.
  15. "NOW Telecom gets provisional authority extension". YugaTech. 21 September 2020.
  16. "NOW Telecom eyes public listing, 5G rollout as NTC grants provisional authority to '4th telco'". ABS-CBN News. 21 September 2020.
  17. "Now Corp Partners with Vietnam's Viettel for ICT Solutions in PH". Business News Asia. 2 October 2020.
  18. "NOW inks 5G rollout deal with Nokia". ABS-CBN News. December 2, 2020. Retrieved December 2, 2020.
  19. "NOW Group and Nokia Sign 5G MOU for Philippine Market". Now Corporation. December 1, 2020. Retrieved December 2, 2020.

External links[edit]



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