Globe Telecom Inc. said on Friday it will invest close to $500 million over a five-year period beginning this year to expand its corporate data for enterprises.
“A growing number of enterprises today use software applications delivered via cloud which require significant bandwidth. Deploying fiber in key areas will enhance productivity, efficiency and competitiveness of businesses that will sustain the growth momentum of the Philippine economy,” Globe acting chief finance officer Rizza Maniego-Eala said.
Eala said the corporate data expansion aimed to support the growth of business clients, capitalizing on the changing business landscape with the strategic use of digital technologies.
Expansion of the company’s corporate data network will address client needs for additional bandwidth as they embrace new network technologies such as Software Defined Network/ Network Function Virtualization, Cloud, Big Data, among others.
The initiative supports the information communication technology requirements of finance, services, retail, IT-BPO and manufacturing enterprises as they expand their operations to Visayas, Calabarzon and Davao.
The infrastructure build for enterprises runs parallel with the company’s initiative of creating an internet superhighway by deploying fiber in 20,000 barangays across the country by 2020 to provide ultra-fast access to around 2 million homes nationwide.
The massive infrastructure build also involves a capacity expansion program for both mobile and wireline using the different technologies that include 3G, LTE and Wi-Fi.
“With the deployment of fiber broadband technology, the infrastructure for data connectivity of enterprises allows for fast, critical connections involving huge amounts of data at all times. We’re hoping that with the twin projects for enterprises and individual customers, they will have access to a more reliable and resilient network that addresses their need for ultra-fast data connectivity,” Eala said.
Globe earlier reported a net income of P4.34 billion in the January-to-March period, up 3 percent from last year’s P4.15 billion.
Globe’s core profit, which excludes the impact of the non-recurring items, one-time gains, foreign exchange and mark-to-market charges, amounted to P4.19 billion in the first quarter from P4.18 billion last year.
Globe posted consolidated revenues of P29.9 billion in the first quarter, up 14 percent from P26.2 billion in the same period in 2015.