Anticipating the liberalization of the telecommunications industry in the Philippines in 1992, Smart (then named Smart Information Technology, Inc.) was organized in January 24, 1991 by a group of Filipino investors led by Orlando B. Vea and David T. Fernando.
The Company obtained its congressional franchise in April 1992 and was granted a provisional authority to operate a mobile cellular service in May 1993. In December 1993, Smart commenced commercial operations of its cellular service.
In compliance with the government’s telecommunications program, Smart established a local exchange service in the cities and provinces assigned to it under the “service area scheme.” The Company also obtained licenses to provide international gateway, paging and inter-carrier transmission services. 
On March 24, 2000, PLDT completed its share-swap acquisition of Smart, making Smart a 100%-owned PLDT subsidiary.