COMPANY PROFILE -Saudi Telecom Company
Business Sector :Telecommunication
Operating Geography :Saudi Arabia, Middle East.
About Saudi Telecom Company :
Saudi Telecom Company is a telecommunication company with headquarters located in Riyadh, Saudi Arabia. The company was founded on April 21, 1998 and is one amongst the larger telecommunications companies of the Middle East. The company provides telecommunication services in the Middle East and North Africa. In recent years it has also expanded into several GCC countries, Africa and Asia. The company now has offices located in Kuwait, India, Malaysia, Turkey, South Africa and Bahrain. The company has employee strength of 17000 as per 2019 records. Its services include card telephone, video streaming on demand, 3G and 4G services, pre-paid and post-paid mobile services, leased transmission circuits, etc. It had the monopoly in mobile phone services until Etihad Etisalat received its second license. In 2020, the company was awarded the Customer Experience Management Award 2020 at the London world customer experience conference for being the best telco operator.
The mission statement of Saudi Telecom Company reads, “to exceed our customers’ expectations so that, together, we reach new horizons.” The vision statement of Saudi Telecom Company reads, “To become a world-class digital leader providing innovative services and platforms to our customers and enabling the digital transformation of the MENA region. Saudi Telecom’s USP or unique selling point lies in being the largest in terms of market capitalization, total revenue and number of employees within the Middle East.
Saudi Telecom Company Revenue :
SAR 51.96 billion – FY ended 31 December 2019 (y-o-y growth 2.9%)
SAR 51.96 billion – FY ended 31 December 2018 (y-o-y growth 2.9%)
SAR 50.66 billion – FY ended 31 December 2017
Competitive Analysis of Saudi Telecom Company
The SWOT analysis for Saudi Telecom Company is presented below:
Strengths | Weaknesses |
1. Established market position across Middle East
2. Wide portfolio of services
3. Strong brand value in global and Arab markets
4. Strong competitive advantage with respect to peers
| 1. Limited International presence
2. Declining bottom line
3. Reducing assets liquidity
|
Opportunities | Threats |
1. Expansion to Asian countries
2. Increase in smartphone users
3. A rise in the adoption of 4G
4. Rapidly evolving technology
| 4. Impact of reduction in termination charges |
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Detailed SWOT Analysis of Saudi Telecom Company
Strength
1. Established market position across Middle East: According to financial reports of Saudi Telecom Company, the company’s revenue was SAR 51.96 billion and SAR 54.37 billion for the year ended December 31, 2018 and December 31, 2019 respectively. The company’s high-speed 4G network has covered more than 75% of Saudi Arabia and has become the largest network provider in Saudi Arabia. The company has established a strong presence in Saudi Arabia and North Africa and has expanded in Malaysia through a 25% stake in Binariang GSM Sdn Bhd. STC also has a stake in Oger Telecom UAE which fully controls Turk Telecom, Avea in Turkey. STC has a 100% ownership in Viva, Bahrain and 26% stake in Viva, Kuwait. STC is also looking at expansion within the MENA region by acquiring a controlling stake in Vodafone Egypt in 2020. STC has also established its position in services such as IT, media content, distribution and real estate which support its telecom investments throughout the Middle East.
2. Wide portfolio of services: STC offers a wide variety of services including mobile phone, landline, data services, etc. The company’s GSM network services offer prepaid cards, 3G and 4G, international calling. Its data services include DSL and leased data transmission. In December 2017, STC and Thales Critical Information Systems and Cybersecurity announced their cloud encryption service. The cloud services area new addition to the existing portfolio of services. The wide service portfolio reduces the risk of being dependant on a particular type of offering.The company has also entered into aSAR7.3bn ($1.95bn)agreement with the government of Saudi Arabia for providing high-speed fibre optic broadband services to more than 1.3 million households by 2020.
3. Strong brand value in the Arab markets: Saudi Telecom Company (STC) enjoys a strong brand value in the Arab world and globally. In the 2020, Global Brand Finance rankings, STC had an impressive rank of 242, a significant improvement from its rank of 283 in the year 2019. Further, in the 2020 Saudi Arabia Brand Finance rankings, STC stood at 2nd place just behind Aramco with its brand valuation increasing by 13% during 2019 to $8 billion. The company has emerged as one of the best digital companies of the MENA region. It has also achieved the distinction of ranking #44 Forbes’ list of the Top 100 Digital Companies around the world in 2019. The strong brand value has helped STC in its expansion in the Middle East markets and demonstrates the goodwill it has accumulated with its stakeholders.
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Weakness
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Opportunity
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Threat
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The PESTLE/PESTEL analysis for Saudi Telecom Company is presented below:
Political | Economical |
1. Political and power issues in Saudi Arabia
2. Need to revamp policies
3. Growing ties with China to benefit telecom innovation
| 1. 10th Development plan and Saudi 2030 vision
2. Oil-dependent economy to be impacted by fall in prices
3. Smart cities to boost demand for ICT
4. Impact of Covid-19 on economy and telecom sector
|
Social | Technological |
1. Young tech-centric population
2. Technical skill gaps in Saudi Arabia
| 1. Investment in R&D to drive innovation
2. Strategic partnership with foreign companies
|
Legal | Environmental |
1. Liberalization of the telecom sector to increase competition
2. Intellectual property rights to promote technology investments
3. Labor laws may make it difficult to get talented technical workers
4. Lift of ban on internet calls to impact incumbent players
| 1. Adherence to environmental standards |
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Detailed Pestle Analysis of Saudi Telecom Company
Political
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Economic
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Social
1. Young tech-centric population: Saudi Arabia is the most populous country in the GCC and unlike most of the countries, Saudi Arabia does not face challenges due to an ageing population. As per statistics of 2016, about 4.2% of the population is above the age of 65 years while about 27.6% of the population is below the age of 14 years. These numbers indicate that a majority of the population is young and dynamic and tech-savvy which will further drive mobile data and content usage. This young population will set up massive demand for latest technological products related to 4G and 5G internet speeds.
2. Technical skill gaps in Saudi Arabia: Most of the employees in technology sectors in Saudi Arabia are expatriates, and same is true for the telecommunication sector. This happens because the technical education system in the country is not adequate to produce technically competent students. The education laws are based on Islamic principles and give relatively lesser attention to mathematics and science. Hence STC has to be dependent on foreign employees to meet its workforce requirements. The labor laws associated with the recruitment of foreign employees have changed in the recent past to reduce unemployment of locals. If the education system is improvised to educate students with technical knowledge, then companies like Saudi Telecom Company will not be worried by changes in the labor laws.
Technological
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Legal
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Environmental
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Saudi Telecom Company SWOT & PESTLE Analysis Report
1. Saudi Telecom Company annual report 2018 - https://www.stc.com.sa/wps/wcm/connect/english/investor/resources/f/3/f3fa9303-7733-421a-9a78-850d3e0d0bed/STC+ENGLISH+2018.pdf
2. Saudi Telecom Company financial results 2019 - https://www.stc.com.sa/wps/wcm/connect/english/investor/resources/a/5/a5c51e45-eeae-4e39-bd1e-21340e35161c/STC+YE+2019+English+FS+-+Final.pdf
3. Saudi Telecom Company sustainability commitment - https://www.stc.com.sa/wps/wcm/connect/english/stc/socialResponsibility/
STC0’s revenue for 12 months period of 2019 increased - https://www.stc.com.sa/wps/wcm/connect/english/stc/NewsItems/stc-revenue-increased+-2019
4. Saudi Telecom Company Forbes ranking 2019 - https://www.forbes.com/companies/saudi-telecom/#28d3de0f4e32
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Saudi Telecom Company SWOT and PESTLE analysis has been conducted by Siddhesh Suhas Salkar and reviewed by senior analysts from Barakaat Consulting.
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