Mobile giant Globe Telecom Inc. has vowed to sustain its momentum in becoming a tech leader, especially as it expects non-telco ventures to increase their contribution to revenues.

According to Globe president and CEO Ernest Cu, the firm will keep on broadening its network of collaborations to help the compnay expand its portfolio of non-telco services.

Cu believes that non-telco earnings will grow within the next two years, adding up to the equity of the Globe Group and raising its market capitalization.

This way, Cu said, Globe would benefit from its gamble to graduate from being a telco provider to a tech innovator. While some folders are bleeding right now, Cu said they still generate market value and increase stock prices for Globe.

'The non-telco earnings will grow. They could either be consolidated into our profit and loss or they could be in a sharing equity earnings of a subsidiary if Globe becomes a significant minority investor,' Cu said.

'The other way that it brings value to Globe is it adds to our overall market cap and market value as we create companies that may not be profitable yet, but to create significant value in terms of market valuation that will also show in the stock price of Globe,' he said.

In its financial report, Globe said revenue from the non-telco segment jumped by more than half to P2.8 billion as of June from P1.9 billion during the same period last year.

As such, the non-telco portfolio now accounts for 3.5 percent of revenues gained by Globe.

Globe maintains a network of partnerships to support the expansion of its non-telco ventures. For one, Globe works with Jack Ma's Ant Group to enable Filipinos to pay abroad using their GCash through Alipay.

Further, telehealth giant KonsultaMD merged with HealthNow and AIDE to combine their health offerings in one superapp. Globe tapped Singapore-based ST Telemedia Global Data Centers as a partner in building a $1 billion data center in Quezon City.

'Collaboration is at the core of the Globe Group and this is how we initiate and drive delivery of services for the greater good,' Cu said.

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