Even the country’s biggest business players are feeling the pressure of a challenging economy, with tycoon Manuel V. Pangilinan raising the possibility of consolidation among major telecommunications companies as costs rise and consumer spending remains subdued.
During PLDT’s third-quarter briefing, Pangilinan said having four major telecommunications operators serving what he described as a relatively small market was becoming increasingly difficult to sustain. He noted that both businesses and consumers were facing financial constraints, making it harder for companies to recover the substantial costs of maintaining and expanding their networks.
The financial results of the major players reflect these challenges. For the first nine months of 2026, PLDT’s net income attributable to shareholders declined by 8% to ₱21.7 billion, Globe Telecom’s net income fell by 7% to ₱16.5 billion, while Converge ICT Solutions reported a 9.1% decrease to ₱8.1 billion. Although all three companies remained profitable, their lower earnings highlight the pressure on even established industry leaders.
Pangilinan said telecommunications companies continue to make substantial investments in infrastructure despite relatively modest revenue growth, raising questions about the long-term returns of operating in an increasingly competitive market. He suggested that fewer major players may eventually remain in the industry, although no specific consolidation arrangement was announced.###