According to news reports, DITO has amassed 890,000 subscribers as of June 10, or three months after its start. Additionally, the firm announced the addition of 23 more locations to its service, bringing the total to 123 and 37% population coverage. On the surface, 890,000 is a respectable amount, particularly given that the majority of this statistic comes from Visayas and Mindanao.

Investors, though, should not read too much into it. Given present laws, considerable churn is unlikely to occur until at least the second or third quarter of next year. Neither the average revenue per subscriber nor the average revenue per user is expected to stabilize until about the same time. Additionally, we underline the possibility that the firm would incur significant losses in the coming years.

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