Globe Telecom Inc. said Thursday it is optimistic about the business climate next year with the expansion of its cutting-edge data center operations and the introduction of the Gogoro two-wheel electric vehicles (EV).
The telecom unit of the Ayala Group said it expects to maintain its business trajectory in 2024 following an all-time high in consolidated service revenues in the first nine months at P121.1 billion despite the challenging macroeconomic conditions.
“We remain optimistic for 2024. We are hopeful that inflation and interest rates have already reached peak levels,” Globe president and chief executive Ernest Cu said.
“We are very confident that given the state of competition in the market, given our people’s continued efforts, and our market position, we’ll be able to sustain a lot of what has happened in our mobile and fixed line side of our telco business this year,” he said.
Cu said he was particularly excited over Globe’s ambitious data center business led by ST Telemedia Global Data Centres (Philippines), a joint venture between Globe, Ayala Corp. and STT GDC of Singapore.
Responding to the growing demand for hyperscale quality locations in the Philippines, STT GDC Philippines recently held the groundbreaking of a 6-MW data center in Cavite, echoing the high standards of its planned 124MW facility in Fairview.
These next generation data centers are designed to cater to the increasing needs of enterprise businesses and hyperscalers for reliable, high-quality data services, marking a significant step in Globe’s expansion strategy. These facilities are expected to generate revenues for Globe and its partners by 2025.
Globe is also leading the charge in climate tech and sustainable transportation with the launch of Gogoro Smartscooters utilizing battery-swapping technology, in addition to its data center initiatives.
The initiative positions Globe at the forefront of the transition to EVs in the country, starting with two-wheelers.
The Gogoro project is a joint venture between Globe’s 917Ventures, Ayala Corp. and Gogoro of Taiwan. It aligns with Globe’s commitment to innovation and environmental stewardship, offering a cleaner, more efficient mode of transportation.
Globe’s strategic initiatives and strong market position ensure its continued success despite the current high interest rate environment and elevated inflation.
