Saudi Telecom Company

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Saudi Telecom Company
TypePublic
Tadawul: 7010
ISINSA0007879543
IndustryTelecommunications
Founded1998; 23 years ago (1998)
HeadquartersRiyadh, Saudi Arabia
Area served
Saudi Arabia, Bahrain and Kuwait
Key people
Mohammed bin Khalid Abdullah
(Chairman)
Nasser S. Al Nasser (CEO)
ProductsFixed line and mobile, Internet services, IPTV
Revenue$13.9 billion (2018)[1]
$3.27 billion (2018)
$2.88 billion (2018)
Total assets32,525,893 dollar (2020) Edit this on Wikidata
Number of employees
17,000
Subsidiaries
Websitewww.stc.com.sa

Saudi Telecom Company, (stylized as stc) (Arabic: شركة الاتصالات السعودية‎) is a Saudi Arabia-based digital company that offers telecommunications services, landline, mobile, Internet services, enterprise digital solutions, entertainment, fintech, and computer networks.

The company lost its monopoly on mobile phone services after the assignment of a second license to Etihad Etisalat. In April 2007 its monopoly on fixed telephone services ended after the victory of a coalition led by the Bahraini Batelco second license put forward by the government, and also the company's prepaid card and called Sawa, it is a popular deployment in Saudi Arabia.

Background[]

The subscriber service of mobile is about 81% of the total Saudi Telecom subscribers who are contributing about 73% of the company's total revenue, and that was by the end of the year 2007. the number of service subscribers reached 17.3 million subscribers at the end of the year 2007. Formed at that time 61% of the total mobile phone users in Saudi Arabia.

It also has fixed line subscriber services about 19% of the total subscribers in the company's services are investigating the company's 27% of its revenue as of the end of 2007.

The Saudi Telecom Company expanded beyond the borders of the host country and that the acquisition of 25% of the Axis Group - Malaysia - and it is working in the field of telecommunications value of $3.04 billion. Which in turn operates a number of mobile phone networks in each of the Malaysia and Indonesia. The agreement also included the acquisition of 51% of Ntarend Co Pte (a subsidiary of the group) and the award-phone license mobile in Indonesia. As STC got 26% of the third mobile phone license in the Kuwait worth reached $924.6 million.

Acharkhaly acquired 35% of shareholders' stakes in the based United Arab Emirates company Oger Telecom at the beginning of the year 2008. In a deal worth $2.85 billion.

And, it has a network of business and investment company in a number of countries in the Persian Gulf, Asia and Africa, where the company resides in the Kuwait and Malaysia and Bahrain.

In addition, the company acquires different ratios in a number of institutions and local and regional companies, including Arabsat Satellite Communications Corporation and operating in the field of broadcasting via satellite. The company Arabian sea cable link between the two shores of the Red Sea (Saudi Arabia - Sudan). The company also recently acquired 100% of the first Internet service provider internet. In addition to Saudi Arabia, a commercial company.

The Public Investment Fund owns a 70% stake in the company, the General Organization for Social Insurance owns 7% of the shares, and the PPA Public Institution for Retirement 6.69%.

In February 2021, STC signed an agreement with Etihad Atheeb Telecommunications (GO) concerning the balances and debt settlement.[2]

In March 2021, Saudi Telecom launched the largest digital operations center in the Middle East and North Africa with a capacity exceeding 8.4 terabits per second. This center aims to improve Saudi Arabia cyber defenses.[3]

Services[]

STC services are divided into three broad categories: Al-Jawal (mobile network), Al-Hatif (landline network), Stc-Pay (Digital Payment) and Enterprise services.[4]

References[]

  1. ^ https://www.stc.com.sa/wps/wcm/connect/english/stc/NewsItems/stc-income-q4-2018
  2. ^ "STC signs debt settlement deal with Etihad Atheeb". Arab News. 6 February 2021. Retrieved 6 February 2021.
  3. ^ "Saudi Telecom launches largest digital operations center in the Middle East". Arab News. 8 March 2021. Retrieved 8 March 2021.
  4. ^ STC website. "STC What's on! Business Fifth Edition" (PDF). www.stc.com.sa. Retrieved 4 August 2014.

4. New Service introduce (Stc Pay)

5. Saudi telecom company new service

6. Saudi Telecom company Chairman

External links[]

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