stc has topped the list of the best telecommunications companies in the region according to the ranking by the global magazine Forbes. In fact, stc ranked first as the strongest telecommunications company in the Middle East and North Africa with a market value for the current year amounting to USD 64.3 billion, an increase of 37.7 percent. stc is among the top 44 digital companies in the world.
Forbes announced its annual Global 2,000 list of the world’s 2,000 most powerful companies, as it relied on 4 main criteria: revenue, profit, asset size, and market value. stc sustained its technology strategy as a major enabler of digital transformation in Saudi Arabia, allowing it to pursue its pioneering journey in the field of communications and information technology, by working to develop its infrastructure and follow technological developments. stc reinforced its lead in diffusing the Fifth Generation (5G) network around the Kingdom as part of its plan to enhance reliable mobile coverage and diffuse the largest advanced 5G network in the Middle East. stc will continue to lead the market in the next stage in the field of new and advanced technology, including achieving a significant expansion in the 5G network, which contributed to the Kingdom ranking fourth in the world in diffusing the 5G network according to the classification of the International Telecommunication Union. stc is also working on enhancing customer experience and continues to develop a reliable and advanced digital network and infrastructure that represent the backbone of various sectors and industries, in parallel with the company's strategy that is in line with the Kingdom's Vision 2030.
stc continues working on making the Kingdom of Saudi Arabia a leading regional center for digital services through innovative projects and global partnerships. It is also working on enabling the digital transformation of both the public and private sectors and strengthening the cloud infrastructure for the local digital economy in the fields of digital payments, Artificial Intelligence (AI), the Internet of Things (IoT), and cloud computing. stc is crowned as the strongest telecommunications company in the region as a result of the Kingdom’s qualitative shift in the field of communications and information technology, as the Kingdom ranked fifth in the world, out of 140 countries, in the Mobile Speedtest Global Index, and advanced 7 ranks for the current year 2021 compared to its performance for the past year 2020. The Kingdom has also made remarkable progress over the past years in the e-government development index.
Source: stc Press Release