STC Agrees with Ericsson, Huawei, Nokia to Deploy 5G Network

STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)
STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)
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STC Agrees with Ericsson, Huawei, Nokia to Deploy 5G Network

STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)
STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)

Saudi Telecom Company (STC) signed three major deals to deploy 5G network in Saudi Arabia and develop services with Nokia, Huawei, and Ericsson at the Mobile World Congress in Barcelona.

Nokia's equipment, software and services will be used to set up a 5G network first in the western and southern part of Saudi Arabia as part of STC’s strategy in conjunction with Vision 2030 and National Transformation Plan (NTP) 2020. The rollout phase is already ongoing and is expected to be completed by end of 2020.

STC subscribers will have access to ultra-high bandwidth and low latency services, as well as new applications in areas such as virtual reality, augmented reality and artificial intelligence.

STC will modernize its existing LTE network through latest technologies such as PS (Packet Switch) core, Massive MIMO, 15-band antenna and multi-band technology.

STC CEO Nasser al-Nasser said: "We are excited to work with Nokia on the Aspiration project which will help us realize our dream to be the first one to launch 5G services in the region.”

He explained that once completed, the subscribers will be able to enjoy innovative high bandwidth consuming use cases, adding that the project underscores STC’s support and commitment to NTP 2020 and Vision 2030 to drive Saudi Arabia's digital transformation into a knowledge economy.

“The leadership of our longstanding partner, Nokia, in the development of 5G is crucial for our launch of 5G services.”

“The agreements will contribute to enhancing the company's products and services, and expanding its market share in the ICT market,” said Senior VP of Technology and Operations Unit Haitham al-Faraj.

Procurement and Support Services Sector VP Emad al-Aoudah also indicated that STC has signed multiple Rawafed Local Content agreements under its 5G Aspiration Project with strategic partners.

Earlier, STC signed a Memorandum of Understanding (MoU) with KT (Korea Telecom) at the Mobile World Congress 2019 to collaborate on new technology areas.

As a leading telecommunication company in Korea, KT will cooperate with STC in various business areas and the two will generate and maximize the synergy effect by combining KT’s state-of-the-art ICT technologies such as 5G network, GiGA Wire, GiGAeyes, VR and STC’s Group business expertise and strong influence in MENA region.

Nasser said the collaboration is a great opportunity for STC and introduce KT’s field proven solutions to Saudi Arabia.

“I am hoping our successful cooperation models could expand to STC’s foreign subsidiaries and other MENA countries.”

Meanwhile, STC launched the first internal network for 5G at King Fahd University of Petroleum and Minerals (KFUPM), at the presence of the dean Dr. Sahl Abd al-Jawad.

The network, launched experimentally in the university at its headquarters in Dhahran, is the first of its kind in the Kingdom and the region. Infrastructure VP Khaled al-Darab said that 5G will help the university build a strategic partnership with the company to develop new services and innovations.

“The company has achieved high speeds of up to 1.3gb/s during site test trials, and the site will be operational in the second quarter of this year.”



US Consumers to Bargain Hunt in Annual ‘Black Friday’ Spree

 A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)
A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)
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US Consumers to Bargain Hunt in Annual ‘Black Friday’ Spree

 A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)
A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)

US shoppers are coming out in force this holiday season, but the festiveness is being tempered by inflationary pressures that have abated but not completely faded.

After the sticker shock during the latter stages of the pandemic, a familiar frustration has settled in towards consumer prices that remain broadly elevated even if they have stopped rising rapidly.

Americans are "ready to open their wallets this holiday season," said the Conference Board ahead of Black Friday -- the day after Thanksgiving, which this year, falls on November 28 -- that traditionally sees US stores kick off the Christmas shopping season with steep discounts.

"US consumers plan to spend more than last year, but inflation reduces how far their dollars can go."

In this environment, nobody expects to pay the full price for items.

"Holiday shoppers are likely to increase their budgets this year versus last year but remain selective and are looking for discounts," said a note from Morgan Stanley.

The investment bank's survey found that 35 percent planned to spend more this holiday season. But nearly two-thirds would skip a purchase if an item is not adequately discounted, meaning a price cut of more than 20 percent.

"It's gonna be a good year, but I don't think that growth is going to be spectacular because consumers are still under pressure," predicted Neil Saunders of GlobalData.

Inflation remains above the Federal Reserve's two percent long-term target, rising in October to 2.6 percent on an annual basis from 2.4 percent in September. But that's significantly below the peak level of 9.1 percent in June 2022.

Other recent economic data has been solid. Unemployment remains low at 4.1 percent, while a preliminary GDP reading for the third quarter came in at 2.8 percent.

But Joe Biden's presidency coincided with about a 20 percent rise in consumer prices as Covid-19 pandemic lockdowns gave way to supply chain bottlenecks.

That inflation played a central role in the 2024 US presidential election, with Republican Donald Trump defeating Biden's appointed Democratic successor, Vice President Kamala Harris.

"There is still a perception among consumers that things are quite difficult," Saunders said. "So people are being quite cautious and careful in their spending."

- Tariff hit? -

How Trump's looming presidency will affect inflation remains to be seen. Industry groups have warned that tariffs favored by the Republican could reignite pricing pressures.

The National Retail Federation projected that a Trump tariff proposal floated during the campaign would dent US consumer budgets by as much as $78 billion annually.

But while tough potential trade actions are already preoccupying Washington trade groups, tariffs are not on consumer radars for the 2024 season, according to Saunders.

One challenge this year will be the shortness of the season.

Black Friday falls at the latest possible date on November 29, shortening the stretch between Turkey Day and Christmas on December 25.

But the impact of that dynamic on 2024 sales should not be overstated. Retailers in recent years have pulled the holiday shopping season ahead, with some vendors launching online "Black Friday" promotions as early as October.

Among the companies that have already begun discounts: the big-box chains Walmart and Target, electronics giant Best Buy and home-improvement retailer Home Depot.

Amazon officially launched "Black Friday Week" on Thursday.

NRF has projected holiday spending growth of between 2.5 and 3.5 percent in the 2024 season compared with the year-ago period, to as much as $989 billion over the two-month period.

Economists with the trade group have pointed to an easing of gasoline prices as a supportive factor.

Online sales are projected to grow as much as nine percent this season, extending a long-term trend. Black Friday itself has become a big occasion for online shopping, along with "Cyber Monday" three days later.

"Over time, we've moved from a period where it was just Black Friday, and maybe a little of the weekend, to it being a period of discounting that starts very early," said Saunders. "It's seasonal discounts."

There has been a diminishment of "doorbuster" sales that are known to draw hordes of waiting crowds, sometimes resulting in injury or worse.

Instead, increasing numbers of consumers are spreading out their purchases or opting to click through Black Friday promotions at home.