Converge ICT has issued an official statement regarding news of their partnership with Starlink.
Over the weekend, it’s been reported that a representative from Starlink, owned by US-based tech tycoon Elon Musk, met with a representative from Converge ICT by Pampanga-based Dennis Anthony Uy.
The meeting hints at a possible partnership between the two. A few weeks ago, Starlink launched internet satellites to space, which will usher a new category of internet service worldwide.
Now, in a statement submitted to the Philippine Stock Exchange, the local telco clarified that the SpaceX partnership is “still very premature to talk about.”
Since the news broke out, Converge ICT’s stock value apparently went up as high as 20%. With that, the company wants to assure the PSE and its investors that it will disclose if such development actually becomes concrete. You can check Converge ICT’s full letter to the PSE here.
A few weeks ago, Senator Grace Poe expressed her enthusiasm of the possibility of Starlink service improving the internet situation in the Philippines.
Starlink utilizes space satellites, which will beam on the dish satellites installed in the user’s roof. The wireless nature will make internet services available in remote locations in the country.
But being a new technology, a starter kit will cost about Php25,000 — apart from the around Php5,000 monthly fee. But as more people adopt, the costs may drop in the future.