As it beefs up its product portfolio to serve customers from different income groups, leading fiber broadband and technology provider Converge ICT Solutions Inc. has surpassed two million residential subscribers as of end-September, with its prepaid segment seeing a significant upswing alongside the growth in its postpaid customers.
“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 Chief Executive Officer and co-founder Dennis Anthony Uy.z
“Converge is positioned to maintain this growth momentum as we bolster our penetration into the different segments of the market,” he added.
Converge has recently expanded its reach to the mass market, offering a prepaid fiber Internet product and a low-cost postpaid plan.
Converge introduced its pioneering prepaid product Surf2Sawa (S2S), which has been attracting budget-conscious customers since its launch, evident with the 77 percent growth, or over 25,000 net additions it registered in the second quarter of the year versus the previous quarter.
Converge ended the first half of the year with 1.97 million residential subscribers, comprising 1.92 million postpaid and over 54,000 prepaid customers. Its net additional subscribers reached more than 92,000 for the January to June period.
According to internal data, August so far has been the company’s best-performing month in terms of sales, falling into analysts’ expectations that an increase in sales may be seen in the second half of the year.
Converge operates the biggest fiber-to-the-home network in the country with more than 7.8 million ports nationwide, as of the first half of the year, as well as one of the country’s most extensive cable systems with 670,000-kilometer fiber backbone.
As of the end of June 2023, Converge network infrastructure has passed over 16.6 million Filipino homes, equivalent to 62.3 percent of household coverage nationwide. – Press release
