Globe Telecom Inc. said on Tuesday it has connected 716 more sites to 5G in January to September, increasing its 5G outdoor coverage to 97.67 percent in the National Capital Region and 92.06 percent in key cities of Visayas and Mindanao.
Beck Eclipse, Globe’s Chief Customer Experience Officer, said this “rapid growth” is hinged on the growing number of 5G devices now connected to the Globe network.
As of end-September, Globe has logged 5.2 million 5G devices in its network, a number that Eclipse said signifies “growing adoption among Filipinos.”
“With the robust expansion of our 5G network, we are not just enhancing connectivity; we are shaping a future where every Filipino is empowered with global, cutting-edge communication capabilities.”
She added that Globe is also beefing up its 5G services outside the Philippines, partnering with 156 carriers in 82 destinations.
Globe’s 5G roaming coverage already extends to countries such as Guatemala, South Africa, Nigeria, Kazakhstan, Laos, Seychelles, India, Peru, Aland Islands, Crete, Croatia, and Romania. So far, Globe has spent P54 billion in capital expenditures (capex) as of September, of which 91 percent was allocated to meet data needs, ensuring that customers have continuous access to premier digital solutions and connectivity.
Globe is spending roughly $1.3 billion (or about P73.8 billion) in capex this year, lower than the $1.9 billion (or about P107.9 billion) in 2022. Globe is further reducing its capex to $1 billion (or about P56.8 billion) in 2024.
Globe saw its profits dwindle by almost a third to P19.36 billion in January to September from P26.50 billion the year prior, despite posting all-time high consolidated service revenues due to higher depreciation costs and a non-operate charge versus last year.
It closed the period ending September with an all-time high consolidated revenue of P121.1 billion, up by 3 percent from a year prior “despite the extended macroeconomic headwinds faced by the industry.”