Zain Saudi loses less in Q1

19 Apr 2011

(MENAFN) Zain’s Saudi Arabian unit’s Chief Executive Officer, Saad al-Barrak, said that even though the company witnessed another quarterly loss of USD142 million in 2011’s first quarter, the company was able to reduce losses compared to the same quarter of the previous year, reported The National.

Al-Barrak added that the company lost USD176 million in the same quarter of the previous year, which means that the company lost 20 percent less, year on year.

Al-Barrak said that this positive progress was achieved through attracting more customers via more diversified services.

It is worth noting that telecom operators in Saudi Arabia are currently competing viciously for market shares through advertising, promotions and innovative services, which subsequently reduces profit margins for all operators.

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