• Globe to spend capex on fiber optic network

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    Telecommunications provider Globe Telecom (Globe) is spending the bulk of its $750-million capital expenditure (capex) for 2016 on installing fiber optic cables in 20,000 communities all over the Philippines in a bid to expand its network.

    Globe president and chief financial officer (CEO) Ernest Cu said the telco is looking to boost its capacity by 70 percent, and is planning to take away the stigma of having the slowest internet speed from the Philippines.

    “For the Philippines to fully take advantage of new digital opportunities, we need to create an Internet superhighway and provide ultra-fast internet connections that will enable growth in every corner of our country,” Cu said at a Globe event Monday evening.

    This year Globe is focusing on improving and increasing data services it offers to its subscribers. It will increase the capacity of its network for both mobile and wirelines using different technologies including 3G, LTE and even WiFi. It will also replace old copper wires that have been used for wireline conanections in the past.

    Fiber optic cables, compared to copper wires, provides the speediest way to access data. According to the telco, with the cable wires replaced download and upload speeds will be faster and more efficient allowing for instantaneous streaming of high definition multimedia content.

    Cu also said that unlike the company’s previous network modernization program, for the network build to be as pervasive as possible, it will also depend on the cooperation of other stakeholders such as local government units and homeowner’s associations.

    “This is not just about the business of connectivity. This is also giving everyone the opportunity to create their own businesses and experience growth as a result of connectivity. We have come to that point where we could all come together and make use of connectivity to benefit as many Filipinos as possible,” Cu said.

    Last year, Globe spent more than 50 percent of its capex on its network.

    Globe posted a 15 percent year-on-year growth in service-related revenues in 2015, the company said.

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