TOKYO -- Philippine telecom giant Globe Telecom aims to bring fixed-line broadband service into more homes in the country, with a goal of providing 2 million households with high-speed internet access by 2020.
In a recent interview with The Nikkei, Jose Teodoro Limcaoco, the chief financial officer of Globe Telecom's parent Ayala Corp., said expansion of service will be conducted along with the conversion from copper lines to fiber-optic cables.
Globe Telecom is in both the mobile and home broadband business.
"We are the largest mobile company in our country, and we have 50% revenue market share," said Limcaoco. He added that the company's market share was only 35% three years ago.
Limcaoco believes it will be difficult to rapidly expand that market share due to fierce competition. His current goal is to maintain the ratio.
In the Philippines, fixed-line broadband penetration remains at 13%, according to the company. Limcaoco said the company wants to expand residential broadband service rather than just the mobile business, seeking the growth potential in that area.
Globe Telecom will first target Manila for constructing home broadband networks and then spread to the suburbs in a gradual manner.
Limcaoco said the company hopes to capture 50% of market share in that business.