CONVERGE ICT Solutions Inc. (Converge) on Monday said that it had surpassed the 2 million residential subscriber market last month while also notching an upswing in the prepaid segment and stable postpaid growth.
“This is a result of our effort to expand growth opportunities through providing more affordable connectivity solutions,” Converge CEO and co-founder Dennis Anthony Uy said in a statement.
Converge recently expanded its reach to the mass market, offering a prepaid fiber internet product called Surf2Sawa (S2S) and a low-cost postpaid plan called BIDA Fiber.
“Converge is positioned to maintain this growth momentum as we bolster our penetration into the different segments of the market,” Uy said.
As of the first half, Converge already had 1.97 million residential subscribers in total, comprising 1.92 million postpaid and over 54,000 prepaid customers.
It added that net additional subscribers reached more than 92,000 for the January to June period.
Converge claims to operate the biggest fiber-to-the-home (FTTH) network in the country, with more than 7.8 million ports nationwide as of the first half as well as one of the country’s most extensive cable systems with a fiber backbone of 670,000 kilometers.
The company earned P4.3 billion in the first half, up 8.5 percent year on year as it grew its customer base.
Converge’s share price fell by 12 centavos to P9.48 on Monday.