PHILIPPINE TELCO GLOBE SET TO REACH 25% MARKET PENETRATION RATE.

AsiaPulse News, May, 2003

MANILA, May 26 Asia Pulse - Globe Telecom's reported forecast of 25 per cent penetration rate by 2005 may be achieved ahead of target.

This was disclosed by Globe Telecom president and CEO Gerardo Ablaza Jr. saying "that as of end March, the penetration rate or cellular phone use, has reached 20.5 per cent already.

"Our early forecast on the penetration rate is 25 per cent by 2005. We are in the middle of reviewing it. (This is) because the penetration rate has gone up, from 19 per cent in the of 2002 to 20.5 per cent, as of end March 2003," Ablaza said.

The National Telecommunications Commission (NTC) said that the penetration rate is 19.5 per cent.

For the first quarter of this year, Globe posted a net income of P2 billion (US$37.88...