MANILA - Globe Telecom said Tuesday there could be a "hyper competitive" home broadband market as demand for faster internet services remain high due to the surge in video consumption and use of communication applications amid movement restrictions due to the pandemic.

Demand for internet services is likely to persist well beyond the health crisis, Globe vice president and head of Broadband Business Darius Delgado said in a virtual briefing.

Connectivity now ranks similar to water and electricity in terms of relevance since consumers "cannot live without it," he said.

"Definitely it's going to be hyper competitive because everyone wants internet and everyone wants fiber. It's going to be a red sea out there in terms of competition. So let the best partner operator win," Delgado said.

"We believe that an operator cannot win on speed alone, cannot win in fiber alone. It's a total proposition that goes beyond speed and connectivity, and that's how we're differentiating in the market," he added.

Globe is investing P70 billion to further boost its business and improve services this year, which includes building up to 1 million lines for its broadband business.

By Delgado's estimates, the broadband penetration rate in the Philippines is currently at 40 percent, representing 8 million subscribers out of 22 million households.

In line with that, he said, they're expecting to substantially grow their broadband business this year.

"What we can say is that we're on track to migrate 60 percent of the migratable leads for this year as our target," he said, a figure significantly bigger compared to last year.

To further set itself apart from the competition, Delgado said they're not just focusing on improving internet speed but also the overall customer experience as well.

Meanwhile, Yoly Crisanto, Globe chief sustainability officer and senior vice president for Corporate Communications, said the company's internal scores in terms of customer experience have significantly improved.

Both Globe and its biggest rival PLDT have been working on expanding their services.

Fiber optic broadband player Converge ICT aims to power 55 percent of homes by 2025 while third telco DITO Telecommunity is rolling out its network nationwide to compete head-to-head with Globe and PLDT.

• PH internet speed still below global average: Speedtest
• Converge sets P20B capex for 2021, eyes 55 pct of homes nationwide

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