Globe Telecom budgets USD850m for 2018

8 Jan 2018

Globe Telecom of the Philippines is setting aside USD850 million for capital expenditure in 2018, a large portion of which will be committed to providing ultra-high speed internet services to two million homes by 2020. Ayala-led Globe disclosed its CAPEX requirements in a Philippine Stock Exchange filing on Friday, noting that the sum broadly mirrors its full-year spend for 2017. Globe president and CEO Ernest Cu confirmed his focus to fund improvements to the company’s data network and address the surge in customer demand for on-demand video content. ‘The majority of the company’s CAPEX for 2018 is geared to meet customer demand for more bandwidth-intensive content which, in turn, will support the revenue momentum of our data-related services,’ he said, adding: ‘We continue to be efficient in our network build, evidenced by the superiority of our mobile network, in terms of higher 3G and LTE availability both on a regional and nationwide basis’. Indeed, as well as shoring up its residential broadband capabilities Globe plan to deploy Massive MIMO technology in 2018, thereby expanding and enhancing its LTE network.

Philippines, Globe Telecom (incl. Innove)