Converge to increase speed of residential base plans for FREE
Converge ICT Solutions is set to increase the speeds for its residential base plans for FREE.
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| File photo: Converge ICT |
Converge upgrades residential base plan
On November 11, 2022, Converge will be permanently increasing the speeds for its residential base plans for free, it said in a regulatory filing.
Converge said starting said date, the FiberX Plan 1500 will have speeds of up to 200 Mbps, double its current capacity.
Similarly, existing and potential subscribers of higher-priced plans will also experience speed boosts, it noted.
Converge said subscribers of FiberX Plan 2500 will have an increase in speed from 300 Mbps to 600Mbps, while FiberX Plan 3500 subscribers will maintain their 800 Mbps.
The company said it will also introduce the new FiberX Plan 2000 which will offer 400 Mbps, and a 1 Gbps plan called the FiberX Plan 7499.
As Converge has designed its network with significant built-in capacity, the announced speed increases come without any need for incremental capital expenditures for the Company, it said.
According to Ookla, the Philippines’ fixed broadband download speed registered at 78.69 Mbps in September 2022, ranking fifth behind Singapore, Thailand, Malaysia, and Vietnam, Converge noted.
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| The boosted plans |
In the first nine months of 2022, Converge registered a 30 percent increase in its consolidated revenue. That is an increase from last year’s PHP 18.8 billion to PHP 24.5 billion.
At the same time, net income also increased 17 percent to PHP 6.107 billion from PHP 5.198 billion.
Converge said it ended September 2022 with 1,845,162 residential subscribers, a 16 percent increase from the same month last year.
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