Globe Telecom slashes iPhone rates to lure more subscribers

MANILA, Philippines - Globe Telecom, Inc., currently the sole distributor of the iPhone in the country, has slashed the acquisition rates of the famed Apple product to attract more subscribers seven days before the handsets become available in the local market. Globe Telecom's acquisition cost for the iPhone has dropped to a range of P2,900 to P15,100. Subscribers who sign up for the highest iPhone postpaid plan of P4,999 a month can get the 8-gigabyte iPhone for free. Globe postpaid subscribers who are not availing of the special iPhone plan can get the iPhone for P1,200 to P34,000. Free 8GB handsets are given to Globe Platinum subscribers with postpaid plans ranging from P5,000 to P10,000. Prepaid subscribers can also get the iPhone for P37,500 for the 8GB model and P43,799 for the 16GB model. On August 6, Globe Telecom officially announced the date of the iPhone release in the Philippines. Rates then ranged from P5,500 to P22,300 for those availing the special iPhone plans; and from P3,300 to P34,000 for regular Globe Telecom postpaid plans. The telco was also selling the iPhone to prepaid subscribers for P41,899 for the 8GB model, and P48,899 for the 16GB model. Reducing the iPhone prices will make the product more attractive to consumers particularly in times of high inflation, said Astro del Castillo of First Grade Holdings, Inc. "In developed markets, the iPhone is well-received. Here, with no clear picture if inflation will soften, they (Globe Telecom) really had to rethink the prices. They have realized the potential of the market. There's a possible low turn out so they are compelled to make it more attractive," del Castillo said. Globe, a joint venture between the Philippines largest conglomerate, Ayala Corp., and Singapore Telecom, is the country's second largest phone company with 22.7 million subscribers as of June 30. - GMANews.TV