“We made a crucial step in fulfilling our goal of connecting more Filipino homes,” Ernest Cu, president at Globe, said in a statement. Offering 5G speed, which is faster and more secure, will help the company’s 2020 goal of connecting 2 million households to its various home internet products from 1.7 million in the first quarter, Cu said.
The venture of Ayala Corp and Singapore Telecommunications Ltd will initially offer 5G packages in Pasig City in the capital region and in nearby provinces of Cavite and Bulacan. Globe's share price was little changed at 2,218 pesos on Friday morning.
Globe's statement didn't say which company it tapped for the home 5G. Last month, a Huawei Technologies Co Ltd spokeswoman in the Philippines said Globe and rival PLDT Inc both committed to continue 5G initiatives with the Chinese tech company.