Now Corp, a telecommunications giant, has recently announced that one of its affiliates will be joining forces with a Singaporean company to start providing a nationwide fiber optics service.
This is part of Now Corp’s efforts to become one of the four leading players in the field in Singapore.
Now Corp’s efforts come amid an increased activity on Huawei’s part, as the Chinese phone manufacturer is looking to roll out 5G connectivity all over Southeast Asia. Huawei is one of Now Corp’s most significant competitors on the market.
However, the fact that Now Corp stocks rise continuously after the announcement is a good indicator for the future success of the company.
Now Corp stocks rise thanks to a collaboration with Singaporean HyalRoute Group
Now Corp stocks witnessed a rise in value of more than fifty-one percent (51.64%) just this week, after the announcement that subsidiary Now Telecom Co. will partner with Singaporean HyalRoute Group to provide a fiber optics network across the whole country.
The construction of a nationwide fiber optics infrastructure is the first step in the development of a 5G network for Singapore. This partnership will place Now Corp in direct competition with Huawei and is the first step in an elaborate plan, which aims to make Now Corp one of the top four service providers in Singapore.
According to Gregorio B. Honasan II from the Department of Information and Communications Technology (DICT), there soon might be two more spaces opening up for nationwide providers in the telecommunications sector.
Now Corp is facing some serious competition; however, strategic partnerships like the one with HyalRoute Group are an excellent first step towards securing a place among the nation’s top telecommunications providers.
