Globe Telecom sets $650 million budget for data investment

Filipino carrier Globe Telecom has earmarked capex of approximately $650 million for data-related investments for this year.

The company’s president and CEO Ernest Cu said the company was looking to sustain revenue growth and it was now focussing on deploying LTE and strengthening broadband infrastructure, as demand for data services continues to grow.

At a shareholder event in Makati City, Cu said: “Data will remain a key investment area from the company in 2014, in anticipation of significant demand for the service. About a quarter of the company’s capex for 2014 will be devoted to data-related investments.”

Data revenues comprised 16% of the company’s total mobile revenue last year, after a successful year for the company overall.

Globe is now targeting 3G and 4G infrastructure investment, with the company looking to build on a partnership it struck with Facebook in November that enables its 38.5 million subscribers to access the site for free.

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