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We might have the slowest internet in the world, yet we also have its monetary counterpart.

Well, that’s shocking tho. Although there’s the fact that we’re paying more for less internet speeds, it seems that we have the cheapest mobile data among other countries in Asia.

It also seems that the main reason behind this are the promos that are constantly popping out from Globe and Smart, two biggest telco companies in the country. To be specific, they are the current GoSurf50 of Globe and the GigaSurf50 of Smart. With these promos, a user can enjoy 1GB data plus 300MB for selected apps for just Php50. And lately, they even come with unlimited all-net texts.

Report showing mobile data prices in Asia (photo retrieved from source)

“The Philippines is a two-player market, yet they are killing each other,” said Karen Hizon, a Manila-based analyst at UBS Group AG.

A megabyte of data brings in just 0.1 U.S. cent of revenue in the Philippines compared with 1.13 U.S. cents in China, according to UBS. It translates to the meaning that the local telcos doesn’t earn that much from these promos when compared to other telcos in Asia.

Despite being the cheapest, there are still a lot to work on with speed and reliability. Yes, speeds have been slowly improving but reliability is sometimes questionable to the extent that it is not enough to be felt by consumers. Both telcos are trying to compete with each other even though they only have themselves in the battle.

The problem is, consumers don’t really have a choice since these two telcos are probably their only choice to use with. The lack of competition led the two companies into something that, if you don’t think of – might seem bad.

And the fact that these two companies are struggling for cheaper megabyte-per-cent while sacrificing speed and reliability makes their customers ferocious. They will just think that yep, this is the price that we pay for.

We are willing to pay a good price, for a good speed, allocation and reliability as well, and it seems impossible if we only have two telcos to play with the market.

Source: Bloomberg | via YugaTech