An incoming third telecommunications service provider in the Philippines could eventually fetch a market value of up to P300 billion considering the demand for faster internet connection speed, Makati Rep. Luis Campos Jr. said on Friday.
“There is room for the new entrant to come in, simply because there is pent-up demand for faster mobile phone Internet connection speeds among Filipinos,” Campos said in a statement.
“This unusually strong demand is not being fully satisfied because neither of the two existing players is willing to supply the superior connection speeds at a lower price,” Campos, who is also House deputy minority leader added.
At present, Campos said P300 billion is around the range of the current market values of leading telecommunication companies PLDT Inc. and Globe Telecom Inc.
Campos earlier said it was “absolutely justified” to drive market competition and give Filipinos access to faster and cheaper internet connection speeds.
President Rodrigo Duterte had opened the telecommunications industry, now dominated by PLDT and Globe, to a foreign third player, particularly a China-owned telecoms
company. The move was meant to address the poor quality of mobile and internet services being provided telecom providers. /muf