STC reaches 15.5 million subs

24 Jul 2007

Saudi Telecom Company (STC) says it was serving 15.5 million mobile users at the end of June, up from around twelve million a year earlier. STC lost its monopoly in the Saudi cellular market in mid-2005 with the launch of Mobily; its rival claimed 6.2 million subscribers at end-March. A third cellco is set to launch in 2008, with MTC of Kuwait leading a consortium which was awarded a national licence earlier this year. Saudi Arabia is home to around 24 million people, giving the country a mobile penetration rate of over 90%.