Converge ICT Solutions Inc. on Monday said it surpassed two million residential subscribers as of end-September 2023, boosted by its prepaid segment.
“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,” Dennis Anthony Uy, Converge chief executive and co-founder said.
“Converge is positioned to maintain this growth momentum as we bolster our penetration into the different segments of the market,” he added.
The fiber broadband provider recently expanded mass market base by offering prepaid fiber internet and a low-cost postpaid plans.
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 registered in the second quarter of the year, versus the previous quarter.
Its postpaid subscribers sustained steady growth as the newly-introduced low-cost postpaid plan BIDA Fiber complemented the company’s core product, FiberX, which starts at P1,500 a month at a speed of 200 Mbps.
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 in the January to June period.
According to internal data, August has proven the company’s best-performing month in terms of sales, fueling analysts’ expectations that an increase in sales may be seen in the second half of the year.
“We are encouraged by the continued growth of our residential subscriber base in the first half of 2023. This is further proof of the superiority of our broadband product, coupled with our people’s laser-focus on meeting customers’ needs,” Jesus C. Romero, Converge chief operations officer, said.
Converge operates the biggest fiber-to-the-home (FTTH) 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 end-June this year, the fiber broadband provider’s network infrastructure has passed 16.6 million Filipino homes, equivalent to 62.3 percent of household coverage nationwide.
