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PLDT posts record-high revenue in 2020, "not concerned" about DITO launch

OPPO
PLDT Inc. recorded its highest service revenue yet on the back of strong demand for internet services during the COVID-19 pandemic.
PLDT posts record-high revenue in 2020, "not concerned" about DITO launch
PLDT vs DITO in 2021?

PLDT generates record-high revenues last year

The Pangilinan-led telco said consolidated service revenue in 2020 reached PHP 171.5 billion, 9 percent higher than the previous year, driven mainly by its data and broadband segment, which increased by 18 percent to PHP 124.5 billion.

PLDT said demand for internet connectivity skyrocketed in the period as Filipinos had to embrace work-from-home setup and distance learning amid the threat of the virus.

Profit last year also jumped by 8 percent to PHP 24.3 billion despite challenges posed by the global health crisis.

Our key learnings from the pandemic can be summed up in two words: Transform and Perform. We have endeavored to keep PLDT at the forefront of digital changes, and we are enabling other companies to similarly adopt the digital mode of doing business. Part of PLDT's success during the pandemic lies in the perseverance of our people in keeping the business going despite the lockdown, PLDT chairman, president and CEO Manuel Pangilinan said.

PLDT will continue to boost its network this year as the group targets to invest up to PHP 92 billion.

DITO Telecommunity, not a threat?

In the same briefing earlier this week, PLDT-Smart chief Technology and Information Advisor Joachim Horn said the third telco player, which will launch on March 8, will "take a long time to catch up".

We cannot comment on what DITO is doing, but what I can really tell you is as far as we have information in the areas DITO is launching, they cannot [get] even close on the coverage we have already. I would not be too concerned about DITO because we will be always ahead of our network, Horn said.

So far, the new challenger has 1,900 cell sites. Globe and PLDT meanwhile have over 16,000 cell sites across the country.

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