Converge eyes virtual reality gaming business
LISTED CONVERGE ICT Solutions, Inc. is looking at cloud and virtual reality gaming as possible expansion routes for the fiber internet service provider.
“In the future, maybe virtual reality, we can also enter that, also cloud gaming,” Converge Chief Executive Officer (CEO) Dennis Anthony H. Uy told reporters on the sidelines of a media event in Pasig City last week.
“We have started some gaming partners already with some content,” he added.
He noted the gaming industry in the Philippines is exclusive to the high-income segment due to the requirements that games demand to achieve maximum performance.
The internet provider offers the FiberX Gamechanger fixed broadband plan that is dedicated for gamers and gaming enthusiasts. It offers high-prioritization access and high internet speed plans.
Converge said that it operates the biggest fiber-to-the-home network in the Philippines, with more than 7.9 million ports as of end-2023.
The network is equipped with 10 gigabits per second passive optical networks (GPON) technology.
“Converge selected the better version of 10GPON called XGS-PON, which is symmetric. The upload and download are done at the same speed. This is important because many of the applications today actually require more upload than download. The reality of the Metaverse for example, requires a lot of bandwidth, data transfer to the cloud, and augmented reality and virtual reality,” Converge Chief Operations Officer Jesus C. Romero said in a separate statement.
In 2023, Converge recorded a 22.3% jump in its net income to P9.1 billion as consolidated revenues climbed by 5% to P35.4 billion.
The internet provided had 2,128,052 subscribers as of end-2023. This is comprised of 2,013,216 postpaid subscribers and 114,836 prepaid subscribers.
Converge shares were last traded on April 5 at P9.23 per share. — Revin Mikhael D. Ochave