In light of the ongoing crisis that has been disrupting the supply chains, PLDT is reportedly cutting its capital expenditures by Php20 billion as well as delay the launching of 5G technology in 2020.
PLDT big boss, Many Pangilinan, made the announcement during a virtual briefing last Thursday, May 7.
According to Pangilinan, the initiative was in response to lockdown constraints that will see the capital index falling from Php83 billion to Php60 billion.
Further, the PLDT exec also claims that rollout of 5G technology is pushed for later in the year.
Despite the adverse effect of the coronavirus to many businesses, PLDT seems to be profiting from consumers still.
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Within the first quarter of 2020, the PLDT saw an increase in its revenue by Php41.5 billion or a rise of 9%.
The income growth came from the consumers’ augmented use of data as many people are forced to be cooped up in their homes due to the lockdown.
With many people opting to video stream, indulge in social media, and bring their work at home, the PLDT’s revenue from the mobile space saw a surge by 40%.