Telecom Lead Middle East: Saudi Telecom Co (STC) has
reported quarterly revenue of SR14.7 billion, up from SR13.1 billion in the
corresponding period of 2011.
The company posted 60 percent increase in first-quarter
net profit.
The mobile operator said revenue from its mobile, fixed
line, corporate and wholesale divisions rose.
Saudi Telecom has reported a profit of SR2.52 billion
($672 million) in the three months to March 31, up from SR1.57 billion in the
year-earlier period.
“The increase in net income… came as a result (of)
the growth in all of the group services revenue,” STC said in a statement,
referring to its mobile, corporate, fixed line and wholesale units.
STC has won back domestic market share by aggressively
pricing broadband bundle packages, while the firm – majority-owned by the
government – has operations across the Muslim world from Turkey to Indonesia,
according to Reuters.
Saudi Telecom selects Ericsson for LTE network roll out in
Saudi Arabia
Recently, Saudi Telecom Company has selected wireless
equipment major Ericsson to deploy LTE network in Saudi Arabia.
Ericsson network will enable STC to provide customers
with an enhanced experience, enabling true high-speed internet, rich multimedia
applications such as HD video streaming and chatting, cloud services and
conferencing and high definition applications.
Middle East is a major market for Ericsson that posted 17
percent increase in group sales at SEK 55.5 billion in Q3 2011 as compared with
SEK 47.5 billion in Q3 2011. Middle East sales increased 34 percent
year-over-year.
editor@telecomlead.com
