MANILA - Globe Telecom on Thursday said it was releasing the first 5G phone in the Philippines for its premium subscribers and will spend P63 billion to further expand its network this year.

The Ayala-led telco, which launched commercial 5G services last year for home broadband subscribers, said it would now offer the Huawei Mate 30 Pro for its Platinum mobile subscribers

The telco said it would transform areas within major business districts to 5G mobile-capable sites within the year.

Globe said it spent 34.2 percent of its revenues in 2019 to improve internet services and fulfill its commitment to provide 2 million homes with at least 10 Mbps connectivity by the end of 2020.

“Amid competitive pressures and rising challenges in the operating environment, Globe continues to fulfill its long-term commitment to provide the Philippines with first-world internet connectivity,” Cu said.

Cu said last year that prices for 5G handsets needed to come down before the technology becomes more widely adopted by mobile subscribers.