Broadband Internet services provider Converge ICT Solutions Inc. said its residential subscriber base has breached the 2-million mark, as its prepaid vertical continues to reap the benefits of the Philippine sachet economy.
Converge CEO Dennis Anthony Uy said the company’s prepaid has seen “a significant upswing.” This, coupled with the “stable growth in its postpaid customers,” allowed the company to reach this new milestone.
“We are proud to mark this milestone in our mission to leave no one behind as we empower Filipinos with world-class fiber connectivity. This is a result of our effort to expand growth opportunities through providing more affordable connectivity solutions,” he said.
Earlier this year, Converge introduced its prepaid product called Surf2Sawa (S2S), which has posted “77-percent growth,” which translates to 25,000 net additions.
Its postpaid subscribers sustained its steady growth as the newly-introduced postpaid plan Bida Fiber complemented the company’s flagship product called FiberX.
All three products offer unlimited data consumption.
“Converge is positioned to maintain this growth momentum as we bolster our penetration into the different segments of the market,” Uy said.
Citing internal data, Converge Chief Operations Officer Jesus C. Romero said August “so far has been the company’s best-performing month in terms of sales, falling into analysts’ expectations that an increase in sales may be seen in the second half of the year.”
“We are encouraged by the continued growth of our residential subscriber base in the first half of 2023. This is further proof of the superiority of our broadband product, coupled with our people’s laser-focus on meeting customers’ needs,” he said. Converge claims to operate the largest fiber-to-the-home network in the country with more than 7.8 million ports nationwide, as of the first half of the year, as well as one of the country’s most extensive cable systems with 670,000-kilometer fiber backbone.
As of the end of June 2023, the fiber broadband provider’s network infrastructure has passed over 16.6 million Filipino homes, equivalent to 62.3 percent of household coverage nationwide.