GLOBE SPENT P17.6B in first Quarter

GLOBE has invested P17.6 billion in capital expenditure (capex) for the first three months of 2023.

This spend was 16 percent lower than in the same period last year, consistent with the company’s effort to ensure business sustainability to properly serve its customers.

The bulk of this capex amount or 90 percent was allotted for data requirements, as Filipinos spend most of their time virtually, which involves greater use of the internet and digital solutions.

For the first three months of the year, Globe built 220 new cell sites, and upgraded over 3,000 mobile sites to LTE, in order to keep pace with the dynamic and evolving connectivity needs of its customers.

The company also deployed only around 118,000 fiber-to-the-home lines, significantly lower than last year’s rollout as the focus shifts to maximizing the utilization of its existing fiber inventory and delivering the right product to the underserved prepaid fiber market.

Globe said it continues to scale up the deployment of 5G wireless technology nationwide. As of the first quarter, Globe has fired up 66 new 5G sites in 74 cities and towns across the Philippines, making its 5G outdoor coverage reach 97.21 percent of the National Capital Region and 90.28 percent of key cities in the Visayas and Mindanao.

Globe also logged 4.3 million devices in its 5G network in March 2023. (PR)