Liberty (Wi-Tribe) losses widen to USD26.8m in 2010

5 May 2011

Filipino operator Liberty Telecom Holdings, a joint venture between San Miguel Corp (SMC) and Qatar Telecom (Qtel), posted a net loss of PHP1.146 billion (USD26.8 million) in FY2010, more than doubling its year-earlier loss of PHP557 million. Revenue reached PHP218 million last year, however, with the overwhelming proportion coming from its fledgling WiMAX operation, which reported strong take-up. ‘The company started its WiMAX broadband service and consequently recognised PHP210 million in revenues in 2010 compared to nil in 2009,’ the firm said. ‘The growth of the Philippine telecommunications market is now being driven by the emergence of broadband services,’ it added.

The Philippine Daily Inquirer reports that in 2011 Liberty, which offers services under the brand Wi-Tribe, is looking to secure a sizeable slice of the wireless broadband market and to that end, is accelerating the rollout of its WiMAX networks in a bid to break into the potentially lucrative but competitive sector.