Globe profits plunge on intense competition

Posted at Feb 11 2011 09:57 PM | Updated as of Feb 12 2011 05:58 AM

Ayala-led Globe Telecoms has a challenging year ahead as intense competition slashed its 2010 bottomline by almost a quarter. Gone were the years when text-crazy Filipinos brought heft profits for Globe's wireless telecommunications business. As consumers' means of communication and interaction evolve, Globe has to find ways to cope as well.

Business Nightly talked to Ernest Cu, president and CEO of Globe Telecom.