Achieved 53.7 million SIM registrants
There’s no stopping telco giant Globe Telecom’s bold streak in the second quarter. The telco giant is pleased with the outcome of sim registrants. Sim registration ended July 31, 2023. A total of 53.7 million consumers registered under Globe which covers over 99% of its revenue generating base. The surge is attributed to subscribers who scrambled to have sims registered last minute.
Impressive Q2 Performance
Globe reported a top line growth of 2%. Globe CEO Ernest Cu attributes its continued growth to consumers recognizing the value of what connectivity brings to their lives.
Mr. Cu expressed “we are very well pleased with the performance of the telco business for the second quarter. People value connectivity and how much value the need to have data plans on their phones. The youth prefer to use data over food, and I think this is just a manifestation of the continuing demand for data services. We also have a very good network availability and consistency during that period. “
In addition, “we also have very good network availability and consistency during that period. It was acknowledged by Open Signal and Ookla. I am sure that also helped when they need to use data, the network is available and consistently performing.”
The Globe executive also mentioned “The coming quarters, there could be some headwinds primarily due to the slowdown of the economy. Growth in GDP slowed down. We had 6% the previous year. Now it’s down to 4%. There’s talk of it going lower to a 2 or 3% range. There’s also talk likewise that inflation may be tapering off already. We are hoping that the BSP will be holding on to the rates. They’ve come to a critical point now that decisions must be truly made. Hopefully, it will moderate inflation but not bring the country into recession. We are optimistic that we will continue until the balance of the year.”
Having reliable data connection to stay connected remains to be a topmost priority of telco giant Globe.
Globe e-sims
Additionally, the telco company will soon launch its own version of e-sim by end of this quarter. E-sims is convenient to customers. With the launch of these e-sims, restructuring business operations is in the offing.
Increasing subscriber numbers
While subscriber count is important, Ms.Issa Guevarra-Cabreira was quick to point out that the telco company puts emphasize on the quality of customers. She said “ we remain steadfast in our commitment in providing reliable network service and with the stability of our network and IT systems, our service availability has tremendously satisfied our customers We have seen increase not just in our sim pick-ups . We have happy customers consuming a lot of mobile data in our network that is performing at par at their quality standards.”
Apart from the business updates, the issue on the mobile wallet app Gcash being used to send money to inmates (Persons Deprived of Liberty) at the Bureau of Corrections was also tackled. The Globe CEO didn’t find anything ‘illegal’ about the use of Gcash by the families of the prisoners to send money to inmates.
He thoughtfully suggested that a “facility inside be established with the prison , where the families can use Gcash to send to the prison administrators and have them distribute the cash to the prisoners and not having to go through a private party. That just shows and emphasizes the convenience of Gcash can be to your families and anywhere in the Philippines and still send you the funds you need to survive inside the prison..”
