Khaled rambles technology, tea/coffee, consumer rights and other interest from Saudi Arabia

January 24, 2009

Mobily profits, STC falls

Filed under: News — Tags: , , , , — Khaled A. @ 3:25 pm

Itihad Etisalat (Mobily), Saudi Arabia’s second-largest mobile phone operator beat analysts’ fourth-quarter earnings forecasts due to higher revenues from voice and data services. Mobily made 778 million riyals ($207.5 million) in the three months to Dec. 31, 51 percent higher than the 514.4 million riyals ($137.2 million) it made a year-earlier, the firm said in a statement posted on the bourse’s website.” from

STC on the other hand the Arab world’s “largest telecom company” by market value, posted a worse-than-expected 62 percent fall in Q4 profit, on Tuesday, blaming the fall on foreign currency fluctuations. Via as well.

STC should concentrate on improving their services, increasing their coverage and lower their prices! And NOT wasting their money (the customers’ money) on useless deals with Manchester United!!

United are out to land a new £125million shirt sponsorship deal – with Saudi Telecom favourites to get their name on the famous shirt. AIG yesterday confirmed they would not be renewing their £19m-a-year sponsorship deal at the end of next season.

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