Zain KSA joins mobile applications competition

Updated 26 December 2012
0

Zain KSA joins mobile applications competition

Zain KSA says it will take part in the Mobile Applications Competation next Wednesday, set up by BADIR Program for Technology Incubators, a subsidiary of King Abdul Aziz City for Science and Technology. The computation aims to motivate smartphones applications developers, through a contest to design smartphone applications.
The company will provide high-speed Internet services for free around the competition area, and also providing a number of iPhones and (speed) devices equipped with voice and data communicating services, as part of the prizes offered for the winning teams, along with distributing many gifts to all contest participants and attendance.
Members of the company’s social program team (Shabab Tamoh) will participate in organizing the event.
The company stressed that its participation in supporting the competition, comes as part of its ongoing pursuit to reach its social responsibilities, and to contribute in establishing an appropriate environment for youths in the Kingdom to practice their hobbies, and stimulate values of fair competition and innovation among them, and to give them the opportunity to work on developing smart devices applications.
Meanwhile, Zain KSA contributed in the Google Developers Group event, the first women technical event in the Eastern Region, which was held in Dhahran, with the aim of gathering young talents and all those who are interested in the technical field and application development, where the event saw incentive awards and gifts provided by the company.
Zain KSA was keen since launching its commercial activities in the Saudi market, to initiative in various social events that supports the youth, in order to help them spend their time in competitive programs, which will contribute in honing their innovation skills, and benefit them and the society in general.


Mobily quarterly loss down by 49%

Updated 26 April 2018
0

Mobily quarterly loss down by 49%

Saudi telecom provider Mobily decreased its quarterly losses in Q1 2018 by 49 percent to SR93 million ($24.84 million) compared with SR182 million in Q4 2017. This was mainly due to a growth of revenues driven by a better mix of products mainly from data, the increase of efficiency in managing operational expenses, the impact of implementing IFRS 9 and 15, and the reversal of certain provisions that are no longer required, according to the company.

Revenues improved for the second consecutive quarter reaching SR2,833 million in Q1 2018 compared with SR2,827 million in Q4 2017, a slight increase of 0.2 percent, despite the following:

l The impact on sales at the beginning of the year due to the implementation of the value-added tax (VAT). 

l The reduction in interconnection rates by 45 percent.

l The seasonality of handset sales, and its increase in Q4 2017.

l The seasonal decrease related to the number of days in Q1. 

Without the decrease of the interconnection rates, revenues would have grown by 2 percent.

Mobily’s gross profit increased in Q1 2018 by 6.6 percent to SR1,663 million compared with SR1,560 million in Q4 2017. This increase is mainly due to the reduction in interconnection rates during Q1 2018 compared with those of Q4 2017 and the reduction in equipment costs in Q1 2018 compared with Q4 2017.

Mobily managed to grow its revenues for the second consecutive quarter. Q1 2018 revenues slightly decreased by one percent (SR33 million) to SR2,833 million compared with SR2,865 million in Q1 2017. Mobily achieved a stable level in revenues despite the general economic and regulatory changes, including the impact on sales in the beginning of the year due to the implementation of VAT, and the reduction in interconnection rates by 45 percent.

Without the decrease of the interconnection rates, the revenues would have grown by one percent year over year.

The gross profit stabilized at SR1,663 million in Q1 2018 compared to SR1,665 million in Q1 2017 with a slight decrease by 0.12 percent, despite the slight decrease in revenues.