PLDT Inc. is studying the possibility of releasing cheaper internet services as inflation worsens for consumers, which also results in weakened demand for broadband packages.
According to President and CEO Alfredo Panlilio, PLDT is currently developing new products and services at cheaper prices to accommodate users’ broadband demand amid the current economical condition.
PLDT is eyeing fixed-line revenue to sustain its upward trajectory this year. However, it may face some setbacks due to the effects of inflation.
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While there’s still demand, Panlilio said that it may not be “as huge as last year” due to the “challenged wallets” of the people. Hence, “affordability becomes an issue.”
Panlilio cited that the challenge — despite the financial issue the consumers are facing — is that there’s still a demand for connectivity services. The company hopes that it can come up with new products that can cater to customers’ needs and budgets.
One of the new products PLDT is looking at is offering sachet-sized bundles of data connectivity for low-income market segments.
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Moreover, the company will also expand its prepaid and wireless service offerings to give users more options depending on their budget.
PLDT was able to grow its fixed-line revenue by 10% to Php128.71 billion in 2022, mitigating the impact of the 2% drop (Php104.27 billion) in wireless earnings.
The Development Budget Coordination Committee (DBCC) projects inflation to be in the range of 5% to 7% on price increases in fuel, transport, and food.
As a result, it is expected that consumers will allocate low priority to non-essential goods and services, which include internet subscriptions.
Via: Philippine Star