MANILA — Telco giant Globe unveiled on Monday plans to launch prepaid fiber in June.
This, as consumers look for more affordable internet options amid high inflation, according to officials.
At a virtual media briefing, Globe President Ernest Cu said the new prepaid fiber service will offer fast internet connection with no lock-in period and will have what the telco described as "sachet" pricing.
"It will be very easy to sign up for, and most of all, it would be very affordable to the general public, particularly the mass market which is really affected by inflation," said Cu.
No further details on the plan were divulged but officials said they aim to serve the underserved market which wants fast internet but does not want to be tied to a locked-in period.
"This will feature a fully digital experience coupled with sachet pricing and financing options that's most relevant and accessible to the mass market," said Globe's Consumer Mobile Business head Darius Delgado.
Offering prepaid fiber is one of the plans to attract more customers and revenues, according to Delgagdo.
Meanwhile, Globe signed a sale and leaseback deal with Unity Digital Infrastructure of the Aboitiz group for the sale of 447 towers.
Globe's Chief Financial Officer Rizza Eala said: "We sold a total of 447 towers with total proceeds of P5.4 billion. We have not received that amount because we will receive the amount in tranches as we turn over the towers to Unity, similar to what we have done with our other tower portfolios."
This may be one of the last tower deals for Globe, at least for now.
Eala said they will review other options in the future but she added that they have already exceeded their target of 7,000 towers to be sold.
With the latest 447 towers, Globe has already sold 7,506 towers. Proceeds will be used to finance maturing debts and capital expenditures.