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Total telecommunications service revenue in the Philippines grew 7% in US dollar terms, though a more modest 3% when measured in local currency terms. PLDT and Globe both reported flat to slightly increasing revenue in the first nine months of 2008, with rising pressure on voice tariffs the main culprit behind the lower-than-expected results. 2009 will be a difficult year when measured in US dollar terms, given the combined effects of the peso’s expected devaluation against the US dollar and continued pressure on voice tariffs. Although the market will see an 8% improvement in local currency terms, when translated into US dollar terms the result will be a 5% contraction in the market’s value, to $5.3bn. Pyramid Research expects the proliferation of 3G and wireless broadband technologies such as WiMAX to begin boosting revenue once again in 2010. Overall, we expect the fastest growth to come from VoIP services (32.8% service revenue CAGR between 2008-2013), fixed broadband services (16.2% CAGR) and mobile data (9.6% CAGR).
Executive Summary
Market and Competitor Overview
Philippines in a Regional Context
Economic, Demographic and Political Context
Regulatory Environment
Demand Profile
Service Evolution
Competitive Landscape
Major Market Players
Segment Analysis
Mobile Services
Fixed Services
Identifying Opportunities
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Publication Date: January 2009
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