Philippines mobile operator Globe Telecom will boost capex for Q4 by $100 million as it accelerates the expansion of its 4G and 3G networks, BusinessWorld reported.
The operator’s board of directors approved the increase, which will see its full-year capex rise to $850 million. The company said it will use the funds to increase the reach of its LTE network on the 700MHz, 1.8GHz and 2.6GHz bands, and to increase the capacity and coverage of its 3G network.
Globe and rival Smart, the mobile unit of PLDT, traded places as the market leader by mobile connections over the past three quarters, with each holding a near 50 per cent share at end-June, according to GSMA Intelligence.
In H1 2017 Globe’s capex stood at about PHP27.5 billion ($543 million). It installed 1,133 LTE sites in Q2, bringing its 4G base station total to 22,800 out of more than 37,000 total sites.
Its consolidated net income fell 7 per cent year-on-year in Q2 to PHP4.33 billion. The company said the decline was due to higher interest and depreciation expenses tied to its share in equity losses and spectrum amortisation related to the acquisition of San Miguel Corp’s telco assets in May 2016.
Service revenue grew 6 per cent to PHP31.8 billion, with mobile turnover up 8 per cent to PHP24.5 billion and the home broadband segment rising 7 per cent to PHP3.88 billion.