PLDT, Inc. on Tuesday said its Home business, which offers fixed broadband services to residential customers, is aiming to reach more areas in the Visayas and Mindanao, as the overall market is still underpenetrated at around 20%.
“The group is anticipating PLDT Home to grow its revenues at an accelerated pace as it adds more fiber customers, with the market still underpenetrated at approximately 20%, compared with up to 50% penetration in the Asian region,” PLDT and Smart Communications, Inc. President and Chief Executive Officer Alfredo S. Panlilio said in an e-mailed statement.
Mr. Panlilio expects PLDT’s Home business to continue its strong performance “given the latent demand, as well as our improved service metrics and the upcoming conclusion of our copper migration campaign.”
PLDT Home said it registered 1.13 million new fiber subscribers last year, up from its target of one million new subscribers.
PLDT now has nearly three million fixed broadband customers.
“This exceptional performance sets the foundation for 2022 and beyond as we continue to build on our strengths as an integrated telco and our commitment to serve our customers in the best way possible,” Mr. Panlilio said.
PLDT Home is ramping up installations this year, according to the group.
The goal is “to serve untapped markets, fast-track completion of migration for the remaining copper customers to fiber, and continuously improve in terms of operations using automation,” it noted.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin