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stc Signs Agreement to Launch Cutting-edge 5.5G Network Technology

The agreement will enable stc to access the newest technologies. SPA
The agreement will enable stc to access the newest technologies. SPA
    Asharq A-Awsat
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stc Signs Agreement to Launch Cutting-edge 5.5G Network Technology

The agreement will enable stc to access the newest technologies. SPA
The agreement will enable stc to access the newest technologies. SPA

stc Group, the most prominent digital enabler in Saudi Arabia and the region, has signed a strategic agreement with its partners to incorporate cutting-edge 5.5G technology.

This agreement will enable stc to access the newest technologies and support the development of leading fifth-generation networks, provide a distinctive customer experience, and establish strong foundations for digital transformation.

The focus of stc Group is to offer its customers a unique and innovative experience by creating a digital platform for cutting-edge technical services. To achieve this, the company emphasizes the need to develop a top-notch technological network.

The high-bandwidth technology offered by stc Group's partners will make it possible to develop a sizable virtual player for a 10Gbps experience, as well as improve energy efficiency and sustainability.

The unique ELAA (MiMO Massive Wide Aerial Combination) technology can achieve high-level performance, making the user experience even more distinctive.

The innovative 5G network has become the foundation for delivering technical services in the business sector, such as the standalone 5G network (5G Standalone), network segmentation, and others.

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Apple Supplier IQE to Launch Strategic Review as It Warns of Flat Revenue This Year

Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. (Reuters)
Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. (Reuters)
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Apple Supplier IQE to Launch Strategic Review as It Warns of Flat Revenue This Year

Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. (Reuters)
Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. (Reuters)

British semiconductor wafer maker IQE said on Monday it would start a strategic review of its assets and consider a full sale of its Taiwan operations, as it warned that group revenue would not grow this year due to a weaker-than-expected sector recovery.

The Apple supplier had announced in July plans to launch an initial public offering for its Taiwan business on the local stock exchange, while retaining control of the unit, but said on Monday that it was now looking at all options.

Shares of the company skidded 15% to 9.02 pence in early trading. They have dropped about 54% this year.

"We will continue to further optimize our operations, restructuring and right-sizing our business," an IQE spokesperson said.

The company, which last month announced the immediate departure of CEO Americo Lemos, has been navigating a challenging financial environment with a sluggish recovery in the semiconductor industry and the growing significance of supply chain security over cost, amplified by rising US-China tensions.

Its peers, including US-based Apple supplier Skyworks Solutions and Chipmaker Qorvo, have all reported soft quarters and guidance over the quarter.

IQE had earlier expected both annual revenue and adjusted core profit to grow.

IQE, whose 'epi-wafers' are used in the Apple iPhone's facial recognition sensors, said it expects 2024 revenue to be around 115 million pounds ($145.27 million), or flat year-on-year.

An LSEG poll of three analysts had forecast full-year revenue of 132.59 million pounds.

IQE said it expects full year adjusted core profit of at least 5 million pounds. Analysts, on average, had forecast core profit of about 12.5 million pounds, according to the LSEG poll.