The Philippines’ new major player DITO Telecommunity has revealed that it aims to achieve profitability by its fifth year in operation.
As part of this, DITO hopes to take a market share of around 30%. Gaining almost a third of the country’s subscribers would break the Philippines’ longstanding duopoly between incumbents Globe Telecom and PLDT’s Smart Communications - a lofty but attainable goal.
Statements regarding DITO’s goals made by its chief administrative officer Adel Tamano had been reported by local media, but were confirmed in a stock market filing by holding company DITO CME. Tamano believes the operator will be able to provide fixed home broadband services within two years and achieve a break-even of EBITDA by its third active year.
After passing its technical audit, DITO launched services earlier this month, offering mobile services across 17 cities and municipalities in Mindanao and Visayas. It is targeting a Metro Manila launch by June this year, and last week had its 25-year franchise extension approved by a senate committee.
