DITO Telecommunity Corp. said it is on track to achieving its goal of having 16 million subscribers by end- 2024, fueled by its extensive network coverage which now reaches over 86 percent of the Philippine population.
“As we approach our third year since commercial launch, DITO has reached an incredible milestone—surpassing 13 million subscribers. This is not just a number; it represents the trust and confidence that millions of Filipinos have placed in us,” DITO chief executive Eric Alberto said during its thanksgiving gala Tuesday evening in Makati City.
“And it is just the beginning of what we intend to achieve in the coming years,” he said.
Alberto told reporters the company was targeting to hit its 16 millionth subscriber this year.
DITO entered the Philippine telecommunications market on March 8, 2021, aiming to challenge the duopoly of Globe Telecom and PLDT Inc.
“Despite stringent conditions and unprecedented challenges, we not only met but exceeded expectations. We successfully passed our fifth and final independent audit, achieving over 86 percent population coverage and delivering impressive speed, surpassing the government’s 55 Mbps minimum hurdle requirement,” Alberto said.
He said the company invested over P250 billion in the past five years to expand its network nationwide, resulting in a robust infrastructure with more than 7,000 cell sites.
Alberto also said the entry of DITO made connectivity more affordable, cutting internet cross dramatically.
“In 2015, the price of data stood at $11 per GB; by 2022, we had reduced it over 20-fold to just $0.52 per GB. This transformation is a testament to the positive impact of healthy competition and the undeniable benefits it brings to consumers,” he said.
He said that in terms of download speed, the Philippines climbed to 81st place, with the country’s average internet speed now at 23 Mbps, from 100th globally in download speeds, averaging just 10 Mbps in 2017.
“This improvement is led by DITO, with mobile broadband speeds of over 90 Mbps for 4G, and over 580 Mbps for 5G,” Alberto said.
The company expects to become EBITDA [earnings before interest, tax, depreciation and amortization] positive by end-2025 and profitable by end-2028.
Its parent firm, DITO CME Holdings Corp., earlier said it was aiming to raise up to P40.26 billion until 2028 to address negative equity positions and finance its expansion plan.
The company already raised P5.5 billion as of end-2023 through private investments made by third parties Xterra Ventures, Pte Ltd., Summit Telco Corporation Pte Ltd. and Summit Telco Holdings Corp.
