Converge ICT Solutions Inc. has surpassed two million residential subscribers as of end-September , driven by the sustained growth of its prepaid and postpaid customers, the company said in a statement.
Converge said its subscriber base grew by 8.7 percent from 1.84 million residential customers in the same period last year.
“Converge is positioned to maintain this growth momentum as we bolster our penetration into the different segments of the market,” said Dennis Anthony Uy, Converge chief executive officer and co-founder.
The fiber broadband provider has recently expanded its reach to the mass market, offering a prepaid fiber internet product and a low-cost postpaid plan.
Converge said its pioneering prepaid product Surf2Sawa (S2S) has been attracting budget-conscious customers since its launch, growing by 77 percent or registering over 25,000 net additions in the second quarter of the year versus the previous quarter.
Its postpaid subscribers sustained its steady growth as the newly introduced low-cost postpaid plan BIDA Fiber complemented its core product, FiberX, which starts at P1,500 a month with a speed of 200 megabits per second (Mbps), Converge added.
BIDA Fiber costs P888 per month with a speed of 35 Mbps to connect a maximum of six devices.
All three products — FiberX, BIDA and S2S — offer unlimited data consumption, Converge said.
The company ended the first half of the year with 1.97 million residential subscribers, comprising 1.92 million postpaid and over 54,000 prepaid customers.
According to internal data, Converge said, August so far has been its best-performing month in terms of sales, falling into 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,” said Jesus Romero, Converge chief operations officer. – Myla Iglesias
