DITO Telecom To Distribute SIM Cards by Last Quarter of 2020

 The country's third telecommunications company, DITO Telecommunity, which a inked a deal with the national government as third telco player revealed in an interview with CNN Philippines that they will be distributing SIM cards by the last quarter of 2020. 

DITO Telecom, formerly known as Mindanao Islamic Telephone Co., eyes full operation by March 2021, but they are now starting for an initial roll-out by the end of the year or the first quarter of next year. The rollout is already backed by a performance bond. 

The company has posted P16.7 billion bond, which will be forefeited in favor of the Philippine government, if they fail to meet the expectations by March 2021. 

DITO Telecommunity should be able to cover at least 37 percent of the population and provide and internet speed of 27-megabits per second on its first year of operation. 

According to the Department of Information and Communication (DICT), the presence of the third telco has improved competition and spending among prominent communications networks in the country. 

One of the country's billionaire, business tycoon Dennis Uy is a major investor of DITO Telecommunity. Major shareholders of the company include Dennis Uy's subsidiary Udenna Corporation and its subsidiary Chelsea Logistics, with 35 percent and 25 percent stake, respectively while the remaining 40 percent is owned by China Telecom. 

Before the year ends, DITO Telecommunity aim to build at least 2,000 towers, far from its initial target of 1,300. 

DITO Telecommunity Corp., aims to capture 30 percent of the local telco market within the firest few years of operations. 

Source: PNA

DITO Telecom To Distribute SIM Cards by Last Quarter of 2020 DITO Telecom To Distribute SIM Cards by Last Quarter of 2020 Reviewed by Phil Newsome on October 11, 2020 Rating: 5
Powered by Blogger.