Leading fiber broadband and technology provider Converge ICT Solutions Inc. has surpassed two million residential subscribers as of September 2023, with its prepaid segment seeing a significant upswing along with the stable growth in its postpaid customers as it expands its product portfolio to serve customers from different income groups.
“We are proud to mark this milestone in our mission to leave no one behind as we empower Filipinos with world-class fiber connectivity. This is a result of our effort to expand growth opportunities through providing more affordable connectivity solutions,” said Converge CEO and Co-Founder Dennis Anthony Uy.
“Converge is positioned to maintain this growth momentum as we bolster our penetration into the different segments of the market,” he added.
The fiber broadband provider recently increased its appeal to the general public by introducing a low-cost postpaid plan and a prepaid fiber internet product.
Converge launched Surf2Sawa (S2S), a ground-breaking prepaid product that has been luring cost-conscious clients since its introduction. This is demonstrated by the 77 percent growth, or over 25,000 net additions, it registered in the second quarter of the year compared to the prior quarter.
With the recently launched low-cost postpaid plan BIDA Fiber complementing the business's flagship product, FiberX, which starts at P1,500 per month with a speed of 200 Mbps, its postpaid subscriber base continued to expand steadily. BIDA Fiber, on the other hand, has a monthly cost of P888 and can connect up to six devices at a maximum speed of 35 Mbps. The three products (FiberX, BIDA, and S2S) all allow for limitless data usage.
1.97 million residential subscribers, including 1.92 million postpaid and more than 54,000 prepaid clients, were subscribers to Converge at the conclusion of the first half of the year. For the months of January to June, it added more than 92,000 net new customers.
Internal data indicates that August has thus far been the company's best-performing sales month, supporting analysts' predictions that a rise in sales may be observed in the second half of the year.
“We are encouraged by the continued growth of our residential subscriber base in the first half of 2023. This is further proof of the superiority of our broadband product, coupled with our people’s laser-focus on meeting customers’ needs,” said Converge Chief Operations Officer Jesus C. Romero.
Converge manages one of the largest cable systems in the nation, with a 670,000-kilometer fiber backbone, as well as the largest fiber-to-the-home (FTTH) network in the nation, with more than 7.8 million ports as of the first half of the year.
By the end of June 2023, 16.6 million Filipino houses—or 62.3 percent of all homes in the country—had been covered by the fiber broadband provider's network infrastructure.
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