Dennis Uy's Dito wants to corner 30% of telco market in 3 years

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Third telecommunications player Dito Telecommunity has set a bold target as it wants to secure 30 percent of mobile subscriptions in its first three years in the business.

Metro Manila (CNN Philippines, November 4) — Dito Telecommunity said it wants to corner 30 percent of mobile subscribers in the Philippines in its first three years in the business.

In a statement, the Dennis Uy-led telecommunications player revealed its bold target to secure a sizeable market share within three years.

Dito's entry in the local market seeks to break the duopoly of Globe Telecom and Smart, after it was named as the third player in November 2018.

READ: Dito's entry may hurt 40% of PLDT revenues, credit rater says

Dito, which is a joint venture of Uy's Udenna Corporation and Chelsea Logistics Corporation with China Telecommunications Corporation, is eyeing to roll out its sevices by the second quarter of 2020.

The firm, previously known as the Mislatel Consortium, will first offer 4G LTE connectivity before moving to the more advanced 5G technology sometime in 2021, Dito spokesperson Adel Tamano previously said.

The new player paid a ₱25.7-billion performance bond to the government as it committed to provide internet service with a speed of 27 megabits per second (Mbps) to 37 percent of the population on its first year of operation. The money will be forfeited in favor of the government if Dito fails to meet expectations by July 8, 2020.

The Philippines has an average mobile internet download speed of 7 Mbps and an average upload speed of 2.2 Mbps, international analytics company Opensignal said in a report last May.

NTC: Dito Telecommunity to start distributing SIM cards by Q4

Dito has started signing deals for cell towers, which include SkyCable and Chavit Singson’s LCS Holdings for a common tower in Ilocos Sur. Others tapped for the construction of towers were China Energy Equipment Co. Ltd. and ZEAL Power Construction & Development Corp., the latter run by a Filipino-Malaysian consortium.