According to Globe president Gerardo Ablaza, declining subscriber growth will seriously dent hitherto surging revenues for the entire Philippine mobile phone industry. The cellco has already experienced the effect with revenue last year expanding 5.6 percent to PHP58.75 billion (USD1.1 billion), down from the 12 percent growth to P55.61 billion registered in 2004. Ablaza expects the trend to continue, saying: “My main guidance is that the industry as a whole is expecting single-digit revenue growth. It’s a function of slowing growth in the subscriber base”. Further, the investment costs associated with 3G network deployment are likely to have an impact on profits. Globe plans to launch 3G services sometime this quarter. It ended 2005 with 12.4 million mobile subscribers, slightly fewer than the 12.5 million it had at the end of 2004, after it disconnected non-active subscribers.