Globe Telecom Inc. on Thursday said it is optimistic about its outlook next year with the expansion of its cutting-edge data center operations and the introduction of the Gogoro two-wheel electric vehicle (EV).
The Ayala-led telco is positive it can maintain its business trajectory in 2024 following an all-time high in consolidated service revenue in the first nine months of 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.,” Ernest Cu, Globe president and chief executive, 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 added.
Cu was particularly excited over Globe’s ambitious data center business led by ST Telemedia Global Data Centres (Philippines) (STT GDC Philippines), a joint venture between Globe, Ayala Corporation, and STT GDC of Singapore.
Responding to the growing demand for hyperscale quality locations in the Philippines, STT GDC Philippines recently broke ground at its 6-MW data center in Cavite, reflecting the high standard of its planned 124-MW 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 revenue for Globe and its partners by 2025.
In addition to its data center initiatives, Globe is leading the charge in climate tech and sustainable transportation with the launch of Gogoro Smartscooters utilizing battery-swapping technology. 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 Corporation, and Gogoro of Taiwan. It aligns with Globe’s commitment to innovation and environmental stewardship, offering a cleaner, more efficient mode of transportation.
Despite the current high interest rate environment and elevated inflation, Globe’s strategic initiatives and strong market position ensure its continued success.
The company’s latest ventures into data center infrastructure and sustainable transportation solutions reflect its dedication to technological advancement and environmental consciousness, setting a precedent not only for the telecom industry but Philippine business in general.
