Globe Telecom
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| Type | Public company (PSE: GLO) |
|---|---|
| Industry | Communications services |
| Founded | Manila, Philippines (1935) |
| Headquarters | Mandaluyong City, Philippines |
| Key people | Jaime Augusto Zobel de Ayala II, Chairman Ernest L. Cu, President and CEO |
| Products | Broadband services Cellular telephony Fixed-line telephony |
| Revenue |  US$ 465 million (6%) (Q1 2012) |
| Net income |  US$ 62.23 million (10%) (Q1 2012) |
| Employees | 7,575 |
| Website | www.globe.com.ph |
Globe Telecom (PSE: GLO), commonly known as Globe, is a telecommunications company in the Philippines. Globe provides mobile, fixed line, and broadband Internet services.[1]
As of March 2012, Globe Telecom has a total of 12,714 base stations and 7,060 cell sites nationwide to support its 2G, 3G, 4G[2] and WiMAX services.[3]
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History [edit]
In 1928, Congress passed Act No. 3495 granting the Robert Dollar Company, a corporation organized and existing under the laws of the State of California, a franchise to operate wireless long distance message services in the Philippines. The Robert Dollar Company subsequently incorporated in the Philippines as Globe Wireless Limited and in 1934, Congress passed Act No. 4150 transferring the franchise and privileges of the Robert Dollar Company to Globe Wireless Limited.
Globe Wireless Limited was subsequently renamed Globe Mackay Cable and Radio Corporation. Congress, through Republic Act 4630 enacted in 1965, further expanded its franchise to allow it to operate international communications systems. Globe Mackay Cable and Radio Corporation was closed in the Philippines by Martial law. Shortly before the expiration of its franchise, the Batasan Pambansa in 1980 enacted Batas Pambansa 95 granting Globe Mackay Cable and Radio Corporation a new franchise.
In 1991, Globe Mackay was subsequently merged with Clavecilla Radio Corporation. Globe Mackay, as the surviving company was renamed GMCR, Inc. and on March 19, 1992, the Philippine Congress passed Republic Act 7229 approving the merger and the transfer of the franchise of Clavecilla Radio Corporation to the surviving company to be renamed GMCR, Inc. Seven years later, on August 20, 1998, the Securities and Exchange Commission (SEC) approved the change of name of GMCR, Inc. to Globe Telecom, Inc. (Globe).
Islacom [edit]
On June 15, 1990, Isla Communications Co., Inc. (Islacom) was incorporated. Through Republic Act 7372, Islacom was authorized to develop a full-service telecommunications network in the country. In 1994, Islacom launched the country's first digital mobile communication service using GSM technology.
On February 22, 2000, Globe, Islacom and its principal shareholders Ayala Corporation, Singapore Telecom, Asiacom Philippines and Deutsche Telekom entered into a general agreement for a combination of their business and operations. On June 27, 2001, Globe completed the share swap transaction with Islacom, which effectively made Islacom a 100%-owned subsidiary of Globe. Globe announced the operational integration of Globe and Islacom's wireless networks. A key element of the integration involves the migration of existing wireless subscribers of Islacom to the Touch Mobile (TM) service.
On August 7, 2003, the National Telecommunications Commission (NTC) approved the legal transfer of Globe's wireline business, authorizations, properties, assets and obligations to Islacom. Also, the SEC approved the change in name of Islacom to Innove Communications, Inc. (Innove).
On March 30, 2007, Globe Telecom, through its president and chief executive Gerardo Ablaza Jr. said it is diversifying from its core business to take advantage of the booming broadband business. Ablaza said the company would increase its investments in cable systems and wire lines to build its broadband Internet infrastructure. Industry analysts have viewed Globe's plan to invest in cable systems as a strategy to compete more aggressively with Philippine Long Distance Telephone Company (PLDT), which took advantage of its wire line infrastructure to diversify into broadband business.
Ownership [edit]
- SingTel: 47%
- Ayala Corporation: 32%
- Public Stock: 21%
Competition [edit]
Globe's main competitors in the fixed-line telephone market are PLDT, Bayantel and Digitel.
In the mobile phone market, its main competitors are the Smart and Talk N Text brands of Smart Communications and Sun Cellular, a wholly owned subsidiary of PLDT.
See also [edit]
References [edit]
External links [edit]
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