Saudi cellco sees stronger than expected sales

24 Feb 2009

Zain Saudi Arabia, the cellular operator which began commercial operations last August, has reported revenues of SAR505.2 million (USD135 million) for the 120-day period from its launch to the end of December, exceeding its own revenue targets by 27%. Active customers totalled 2.01 million at the end of 2008, which the firm says represents a 7% share of all Saudi users. Gross profit for the period stood at SAR16 million, though hefty start-up and initial operating costs left the company facing a net loss of SAR2.28 billion. Zain competes with the Kingdom’s two established cellular providers, STC and Mobily.

Saudi Arabia, Zain Saudi Arabia