In keeping with its planned strategic rollout, Globe has added 41 more 5G sites around the Visayas and Mindanao region to actively test various applications that would assist Filipinos from all socioeconomic backgrounds.
Globe expanded its 5G network by adding 27 new sites in the Visayas and 14 in Mindanao. This was done as part of a larger plan to support digital infrastructure in important industries including entertainment, banking, healthcare, and education.
“Our 5G expansion in Visayas in Mindanao is a major milestone in our journey towards creating a truly digital Philippines," said Joel Agustin, Globe’s Senior Vice President for Network Planning and Engineering.
"We are not only enhancing connectivity for Filipinos but also enabling a myriad of opportunities for businesses, communities, and the country as a whole,” he added.
Tapping on key cities
Globe invested $1.3 billion in capital expenditures (capex) last year, the majority (91 percent) of which went into enhancing data infrastructure to meet the spike in demand for data connectivity that coincided with the digital transition caused by the pandemic.
In key towns in Visayas and Mindanao, Globe has attained an outside coverage of 92.36 percent and 97.90 percent in the National Capital Region.
As a result, over 5.8 million devices were able to connect to Globe's 5G network in December, demonstrating the company's commitment to both service excellence and technological innovation.
Following years of prioritizing network growth, Globe has reduced its capital expenditure from $1.3 billion in 2023 to $1 billion in 2024.
Revenue insights
Due to economic difficulties, Globe anticipates that its revenues will grow by "low to mid-single digit" this year.
Globe's profits decreased by 29% in 2023 to P24.58 billion from P34.61 billion, mostly due to increased depreciation costs and non-operating charges that offset the 3% increase in revenues.
Cost-cutting initiatives are anticipated to last until 2025, with the corporation aiming for less than $1 billion in capital expenditures.
