عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

ROSHN Group, stc Group Partner to Connect ROSHN Communities with Cutting-edge ICT

ROSHN and stc group would explore opportunities for collaboration around integrating cutting-edge connectivity and ICT solutions with ROSHN communities
ROSHN and stc group would explore opportunities for collaboration around integrating cutting-edge connectivity and ICT solutions with ROSHN communities
TT
20
TT

ROSHN Group, stc Group Partner to Connect ROSHN Communities with Cutting-edge ICT

ROSHN and stc group would explore opportunities for collaboration around integrating cutting-edge connectivity and ICT solutions with ROSHN communities
ROSHN and stc group would explore opportunities for collaboration around integrating cutting-edge connectivity and ICT solutions with ROSHN communities

ROSHN, Saudi Arabia's leading national real estate developer and PIF-funded giga-project, has signed a memorandum of understanding (MoU) and infrastructure agreement with stc group, the engine of digital transformation in the region, at the Cityscape Global forum in Riyadh to provide ROSHN communities with best-in-class, cutting-edge telecommunications access, coverage and connectivity, according to statement from ROSHN.

The statement said ROSHN and stc group would explore opportunities for collaboration around integrating cutting-edge connectivity and ICT solutions with ROSHN communities.

These will include 5G towers, smart home and smart city solutions, and implementing Big Data and Internet of Things (IoT) technologies that improve efficiency, accelerate connectivity and boost the quality of life for residents and visitors.

The MoU will also see ROSHN and stc explore the possibilities of a loyalty program for ROSHN community residents alongside adding stcpay for ROSHN online transactions.

Through the framework agreement, stc group will design, build, and operate a neutral host infrastructure for ROSHN's WAREFA community in Riyadh. This development will allow residents access to both fixed-fiber networks and accelerated wireless mobility connectivity, regardless of service provider.

David Grover, Group CEO of ROSHN, and Olayan Bin Mohammed Alwetaid, stc Group CEO, signed the agreements.

"The partnership agreement established between stc and ROSHN has been formulated as a strategic move towards the expansion and growth of the group,” said Alwetaid.

“The agreement aims to strengthen the group's digitally equipped capabilities and enable it to operate in new regions and projects across the Kingdom. We will equip a modern digital infrastructure and provide the latest digital solutions and services,” he said.

“Our innovative technologies will enrich the lives of society, as smart city technologies and applications will be reflected in ROSHN projects to enhance the quality of life. These efforts align with the vision's goals: to build a digital society, a prosperous digital economy, and a better future for the Kingdom,” Alwetaid added.

As for Grover, he stated: "At ROSHN, we are always seeking to form partnerships with companies and organizations that can deliver our residents the best-in-class services they expect from ROSHN communities and properties. These two agreements will ensure that residents of all our communities have access to up-to-the-minute digital tools required by the modern world, enabling them fast internet access, easy communications, and secure payment connections."

Most Viewed

 
Technology

Samsung Says Trade Turmoil Raises Chip Business Volatilities, May Hit Phone Demand

A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)
A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)
TT
20
TT

Samsung Says Trade Turmoil Raises Chip Business Volatilities, May Hit Phone Demand

A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)
A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)

South Korean technology giant Samsung Electronics warned on Wednesday US tariffs could cut demand for products such as smartphones, making it difficult to predict future performance.
According to Reuters, Samsung said it expected its semiconductor business to encounter greater uncertainties throughout the year, while its smartphone shipments faced downward pressure in the second quarter.
The cautious outlook from one of the world's biggest electronics manufacturers reflects the uncertainties roiling global trade due to US President Donald Trump's tariff war, and comes a day after General Motors pulled its annual forecast.
The world's largest memory chipmaker reported a small rise in first-quarter operating profit as customers concerned about US tariffs rushed to purchase smartphones and commodity chips, mitigating the impact of its underperforming artificial intelligence chip business.
It reported 6.7 trillion won ($4.68 billion) in operating profit for the quarter ended in March, up 1.2% from a year earlier and in line with its earlier estimate.
Samsung shares, one of the worst-performing major tech stocks last year, fell 0.4% in line with the broader market.
Steep US tariffs on Chinese goods and toughening restrictions on AI chip sales to China, Samsung's top market, threaten to dampen demand for some of the electronics components the company produces such as chips and smartphone displays.
Trump's "reciprocal" tariffs, most of which have been suspended until July, threaten to hit dozens of countries including Vietnam and South Korea where Samsung produces smartphones and displays.
Samsung said it was considering relocating the production of TVs and home appliances in response to the tariffs.
Chip demand is expected to remain solid in the second quarter, driven by AI servers and preemptive purchasing activities after the pause in tariffs, Samsung said.
But it warned that the frontloading of chip shipments by some customers may have a negative impact on demand later this year.
“We believe that demand uncertainties are growing in the second half as a result of recent changes in tariff policies in major countries, and strengthening of AI chip export controls,” Kim Jae-june, a Samsung vice president in the memory division, said on an earnings call.
Samsung CFO Park Soon-cheol said however that "we cautiously expect the overall performance to gradually improve as we move into the second half, assuming the easing of current uncertainties".
Some analysts were unconvinced, saying the company did not give detailed guidance for its struggling AI chip business.
"With pull-in demand still ongoing and macro uncertainty lingering, the explanation for the 'first-half low, second-half rebound' outlook was lacking," Ryu Young-ho, a senior analyst at NH Investment & Securities said.
AI CHIPS
Samsung's mobile device and network business reported a 23% rise in profit to 4.3 trillion won during the period, reaching its highest level in four years, helped by the latest version of the flagship Galaxy S model with AI features.
Samsung has accelerated smartphone production in Vietnam, India and South Korea ahead of the US duties, a person familiar with the matter told Reuters earlier.
While mobile performed strongly, the chip division's operating profit slumped 42% to 1.1 trillion won from a year earlier despite chip stockpiling by some customers.
Samsung reported a fall in sales of High Bandwidth Memory (HBM) - used in AI processors - due in part to US export controls on AI chips.
Samsung said it had supplied samples of its enhanced HBM3E products to major customers and expected HBM sales, which have bottomed out in the first quarter, to "gradually" rise from the second quarter, without offering detailed targets.
Analysts estimate that about one third of Samsung's HBM revenue has come from China, and it lags behind cross-town rival SK Hynix in supplying such chips to Nvidia in the United States.
SK Hynix last week logged its second-highest quarterly operating profit in the first quarter with a 158% jump to 7.4 trillion won, boosted by strong AI-related demand.
Revenue rose 10% to 79.1 trillion won in the January-to-March period, in line with its earlier estimate of 79 trillion won.