TODAY'S BUSINESS HEADLINES

STI claims control over PWU 22-Dec-14, 5:54 PM | Krista Angela M. Montealegre, InterAksyon.com

Philippine share prices post modest gains 22-Dec-14, 5:07 PM | Krista Angela M. Montealegre, InterAksyon.com

Customs misses 11-month collection goal 22-Dec-14, 3:18 PM | InterAksyon.com

Filinvest Land, Megawide-led group firm up interest in southwest metro transport hub 22-Dec-14, 1:31 PM | Darwin G. Amojelar, InterAksyon.com

DMCI selling stake in Tarlac-Pangasinan-La Union Expressway 22-Dec-14, 11:23 AM | Krista Angela M. Montealegre, InterAksyon.com

Globe claims lead in postpaid segment

InterAksyon.com means BUSINESS

MANILA, Philippines - Globe Telecom Inc. said it topped the postpaid segment of the mobile market at end-March, driven by the strong demand for the iPhone 4S.

In a statement, the Ayala-led telco said its postpaid subscribers rose 34 percent year-on-year to reach 1.5 million in the first three months of this year.

Including prepaid accounts, Globe's total mobile phone subscriber base stood at 31 million at end-March.

The group of Philippine Long Distance Telephone Co. (PLDT) had two million postpaid subscribers, with newly acquired Sun Cellular having 1.4 million and Smart Communications Inc., 600,000. Overall, the PLDT group's subscribers stood at 66.1 million.

Besides the iPhone 4S, Globe said the robust take-up of its postpaid plans was a result of the warm reception to its customizable plans that attract new and old subscribers.

“Investments in postpaid subsidies which are fully-funded by rise in revenues, set up the business for sustained top-line growth in 2012.  The growth in customer volumes and handset subsidies are also driving the increase in total marketing and subsidy.  We now have an improved customer mix with 45 percent of postpaid net additions signing up for the mid- to high-end plans from only 16 percent last year,” Ernest L. Cu, Globe president and chief executive said.

Globe's postpaid business kept its growth momentum as it posted a 17 percent year-on-year increase in service revenues.

Postpaid service revenues accounted for 32 percent of Globe's mobile revenues, up from 29 percent last year.