GLOBE TELECOM, Inc. expects to sustain revenue growth despite the mandatory subscriber identity module (SIM) card registration which resulted in the deactivation of about 30 million unregistered SIMs.
“We see that SIM registration has no material impact on revenues. We’ve observed our top-ups remain unaffected and acquisitions in the last five weeks are still at least 50% higher than pre-deadline run-rates,” Darius Delgado, head of Globe consumer mobile business, said in a statement on Sunday.
The company was able to sustain growth in the first half as the 53.73 million registered SIMs represent almost a hundred of its revenue-generating subscriber base, the listed telecommunications company said.
“It’s evident that we have already covered 99% of our revenue base,” Mr. Delgado said.
The National Telecommunications Commission reported SIM card registrations of 113.97 million, equivalent to 67.83% of the estimated 168.02 million cards in circulation. Globe had registered 53.73 million or 61.9% of its total.
Globe noted that the SIM registration, which led to the deactivation of users who failed to register by the deadline, had no significant impact on the company’s revenue for this year.
Republic Act No. 11934 or the SIM Registration Act directed all mobile phone and prepaid broadband users to register their SIMs by July 25. Users who failed to register by the deadline had their SIMs deactivated.
The company has deactivated about 30 million SIMs, which are mostly inactive users, Mr. Delgado said.
“As we’ve always emphasized, we do not focus on subscriber count but rather on the quality of customers. And we have seen that our ARPUs (average revenue per user) are absolutely improving quarter on quarter as mobility increases,” said Maria Louisa Guevarra-Cabreira, chief commercial officer of Globe.
In the second quarter, Globe reported a 17.7% increase in attributable net income to P7.07 billion from P6.01 billion in the same period last year.
From April to June, the company’s gross revenues reached P44.49 billion, an increase of 1.7% from P43.76 billion in the corresponding period of 2022. — Ashley Erika O. Jose
Globe foresees revenue rise after deactivated SIMs
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