Globe Telecom said that the majority of the $750 million Capex (capital expenditure) in 2016 will be earmarked to deploy fiber optic cables in 20,000 barangays to provide Internet in 2 million homes by 2020 in Philippines.
Globe Telecom will build the telecom infrastructure in 5 years and will extend network coverage to more areas that currently do not have connection or spotty service.
“Data access is one of the important drivers of economic competitiveness and growth. We need to create an Internet superhighway and provide ultra-fast internet connection that will enable growth in every corner of our country,” said Globe President and CEO Ernest Cu.
The network build will also increase the capacity of its network for both mobile and wirelines using different technologies including 3G, LTE and even Wi-Fi. It will likewise replace the old copper wires that have been used for wireline connections in the past.
Globe Telecom, which posted revenues at P85.1 billion in 2015, has a customer base of 2.4 million. Globe Telecom recorded 55 percent increase in mobile data revenues last year.
