TODAY'S BUSINESS HEADLINES

Psalm awards Naga power complex to SPC Power 31-Jul-14, 10:08 PM | Euan Paulo C. Añonuevo, InterAksyon.com

PSE approves listing of TransAsia subsidiary 31-Jul-14, 6:10 PM | Krista Angela M. Montealegre, InterAksyon.com

Money supply growth slows further at the close of 2Q 31-Jul-14, 4:58 PM | Scarlet Venilia, InterAksyon.com

BSP ends era of 'easy money', hikes key interest rates 31-Jul-14, 4:17 PM | Scarlet Venilia, InterAksyon.com

Slump in power, banking businesses pull down Aboitiz Group's earnings 31-Jul-14, 9:55 AM | Krista Angela M. Montealegre and Euan Paulo C. Añonuevo, 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.