Bilyonaryo Jaime Augusto Zobel de Ayala?s Globe Telecom Inc. has earmarked $750 million for its capital expenditures this year in preparation for the entry of a third player aimed at breaking the duopoly in the country?s telecom industry.
This year?s budget is higher compared to the $704 million investments made by the company last year to modernize and expand its network.
Majority of the investments this year will be for the deployment of additional long-term evolution or LTE sites, increased network capacities and coverage as well as modernization of fixed line data infrastructure for corporates and transmission facilities amid the growing demand for data and internet connectivity.
Globe expects the market to remain challenging and competitive this year given the shifting focus of the customers? lifestyle and usage in a digital world.
Globe competes directly with Bilyonaryo Manuel V. Pangilinan?s Philippine Long Distance Telephone Co. (PLDT).
Both companies are threatened by the entry of a third player in the industry after Bilyonaryo Ramon Ang?s San Miguel Corp. tied up with Australia?s largest phone company Telstra.
