Globe Telecom, a leading mobile service provider in the Philippines, has decided to lower its Capex by 30 percent to $1.3 billion for 2023 from $1.9 billion in 2022.
“Globe, a leading digital platform in the Philippines is moving on the next phase of its Capex investment cycle, with Globe’s Board of Directors approving a significantly lower cash Capex level of $1.3 billion for 2023,” it said a regulatory filing.
Globe Telecom closed the first nine months of 2022 with ₱74.4 billion capital expenditure, or 14 percent higher than last year to bring communications services to its over 91.0 million customers nationwide. 84 percent of this Capex was allocated for data requirements to enhance the customer data experience.
These data requirements include additional LTE upgrades, new 5G sites, more tower builds, and Fiber to the Home (FTTH) rollout. Globe Telecom deployed 1.4 million FTTH lines as of end-September of 2022, versus over one million lines from a year ago.
Additionally, Globe built 1,064 cell sites, upgraded over 10.6 thousand mobile sites to LTE, and installed 1,887 5G sites to address the connectivity needs of the Filipinos amid digitalization. Globe aims to set up 1,407 cell sites during 2022.
Globe’s 5G outdoor coverage has reached 97.1 percent of the National Capital Region and 87.7 percent of key cities in Visayas and Mindanao. As of end-September 2022, Globe logged over 3 million devices in its 5G network.