Philippine Long Distance Telephone Company
PLDT logo used since June 13, 2016
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|
| Public | |
| Traded as | : TEL : PHI |
| Industry | Telecommunications |
| Founded |
Manila, Philippine Islands (1928) |
| Headquarters | Makati, Philippines |
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Key people
|
Manuel V. Pangilinan (Chairman of the Board and President & CEO) |
| Products |
Cellular telephony Digital Services Fixed-line telephony Information technology Satellite communications Electricity distribution Broadcast media |
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Number of employees
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17,496 (2014) |
| Website | www |
PLDT Inc., (: TEL, : PHI), formerly known as the Philippine Long Distance Telephone Company (Filipino: Kompanya ng Teleponong Pangmalayuan ng Pilipinas), is the largest telecommunications and digital services company in the Philippines. The latest consolidated service revenues reported for the first three quarters of 2016 is at ₱125.4 billion, and net income at ₱15.9 billion.
PLDT was established on November 28, 1928, by a Philippine Government act. Philippine legislature and approved by then Governor-General Henry L. Stimson by means of a merger of four telephone companies under operation of the American telephone company GTE. Known as Act 3436, the bill granted PLDT a 50-year charter and the right to establish a Philippine telephone network linking major points nationwide. However, PLDT had to meet a 40-day deadline to start implementing the network, which would be implemented over a period of one to four years.
By the 1930s, PLDT had an expansive fixed-line network and for the first time linked the Philippines to the outside world via radiotelephone services, connecting the Philippines to the United States and other parts of the world.
Telephone service in the Philippines was interrupted due to World War II. At the end of the war, the Philippines' communications infrastructure was in ruins. U.S. military authorities eventually handed over the remains of the communications infrastructure to PLDT in 1947, and with the help of massive U.S. aid to the Philippines during the 1940s and 1950s, PLDT recovered so quickly that its telephone subscribers outpaced that of pre-war levels by 1953.
On December 20, 1967, a group of Filipino entrepreneurs and businessmen led by Ramon Cojuangco took control of PLDT after buying its shares from the American telecommunications company GTE. The group took control of PLDT's management on January 1, 1968, with the election of Gregorio S. Licaros and Cojuangco as chairman and president of PLDT, respectively. A few months later, PLDT's main office in Makati (known today as the Ramon Cojuangco Building) was opened, and PLDT's expansion programs begin, hoping to bring reliable telephone services to the rural areas.
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Wikipedia