stc Group Net Profit for First Quarter of 2025 Increases 11.05%

CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat
CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat
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stc Group Net Profit for First Quarter of 2025 Increases 11.05%

CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat
CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat

Saudi Arabia’s stc announced on Sunday the company’s preliminary financial results for the first quarter ending March 31, reporting revenues of SAR19,210 million, a 1.60% increase year-over-year.

Gross profit rose by 5.01% to SAR9,098 million, operating profit increased by 2.02% to SAR3,584 million, and EBITDA grew by 5.25% to SAR6,120 million. Net profit for the quarter reached SAR3,649 million, representing an 11.05% increase compared to the same period last year.

According to a statement issued by stc, the group distributed SAR0.55 per share for the first quarter of 2025, in accordance with the dividends distribution policy approved by the General Assembly.

Commenting on the results, CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth, as well as its relentless pursuit of creating added value for shareholders, customers, and the digital economy as a whole.

He further added that, early in 2025, stc Group achieved several strategic milestones that further solidified its position in the telecommunications and information technology sector. Among these achievements was a new global milestone, as the group successfully localized the software for eSIM technology in collaboration with Thales, making stc the first telecom operator in the world to obtain SAS-UP license certification from the GSMA.

He emphasized that this accomplishment complements stc’s ongoing efforts to support local content in the ICT sector through business localization and the transfer of manufacturing and technical expertise to the Kingdom.
In continuation of the group’s efforts to enhance the digital communication infrastructure in the region, stc signed a strategic agreement with Ooredoo to establish an international ground fiber network corridor between Saudi Arabia and Oman. This strategic partnership aims to enhance the digital communication infrastructure in the region through the project, which starts with the Saudi-Oman corridor. The project will also create an integrated ground fiber network with two backup routes, connecting submarine cable landing stations on the Red Sea in Saudi Arabia to their counterparts on the Arabian Sea in Oman, passing through dedicated data centers in both countries. This agreement reaffirms the Group’s commitment to delivering advanced communication solutions, enhancing intercontinental connectivity, and driving digital transformation to support the region’s economic growth.
The statement added that stc Group strengthened its position in cloud computing and artificial intelligence by signing an agreement with Amazon Web Services (AWS). This partnership significantly boosts the Group’s ability to deliver advanced technological solutions tailored to the diverse needs of various sectors, while reaffirming its commitment to driving the shift toward an integrated digital economy and leading the future of smart technology in the Kingdom and beyond.
Furthermore, as part of its commitment to providing the highest quality of digital services, stc Group enhanced its telecommunications network in the Two Holy Mosques during the holy month of Ramadan by strengthening its infrastructure to meet the growing demand for services during peak times. This upgrade resulted in a 120% increase in connection speed, enabling the Group to ensure an exceptional communication experience for visitors to the holy sites during the peak visitor periods.



Huawei Launches 1st Laptops Using Home-grown Harmony Operating System

Huawei Atlas 800 inference server is displayed at InnoEX Fair, in Hong Kong, China April 15, 2025. REUTERS/Tyrone Siu/File Photo
Huawei Atlas 800 inference server is displayed at InnoEX Fair, in Hong Kong, China April 15, 2025. REUTERS/Tyrone Siu/File Photo
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Huawei Launches 1st Laptops Using Home-grown Harmony Operating System

Huawei Atlas 800 inference server is displayed at InnoEX Fair, in Hong Kong, China April 15, 2025. REUTERS/Tyrone Siu/File Photo
Huawei Atlas 800 inference server is displayed at InnoEX Fair, in Hong Kong, China April 15, 2025. REUTERS/Tyrone Siu/File Photo

Huawei launched two new laptop models on Monday, the first sold with its own Harmony operating system, in a bid to take on well-established Western Big Tech rivals even as the United States seeks to limit its access to crucial chips.

Despite its emergence as the world's leading producer of tech hardware, China's development of computer operating systems has lagged behind Microsoft (MSFT.O), and Apple (AAPL.O), whose Windows and macOS have cornered the global market for decades.

The new MateBook Fold and MateBook Pro both run on HarmonyOS 5, the latest version of an operating system Huawei Technologies began developing in 2015 and introduced five years later on its Mate series smartphones, Reuters reported.

It began developing the laptop prototypes in 2021.

"The Harmony laptop gives the world a new choice," Yu Chengdong, head of Huawei's consumer business group, said during a livestreamed launch event. "We kept on doing the hard things but the right things."

The base model of the MateBook Fold, which does not have a physical keyboard and offers an 18-inch OLED double screen when fully extended, will sell for 23,999 yuan ($3,328).

The MateBook Pro model, which uses a conventional laptop keyboard, is priced from 7,999 yuan.

Washington began restricting Huawei's access to U.S. technology in 2019 over national security concerns, pushing the company to build its own capacity to develop and produce chips and operating systems.

Huawei said the HarmonyOS for computers currently offers over 150 applications, including WPS Office from Kingsoft (3888.HK), - an alternative to Microsoft's Office - and photo editing app Meitu (1357.HK), Xiu Xiu.

By the end of 2024, over 7.2 million individual developers were developing apps for HarmonyOS, which was installed on over a billion devices, including smartphones and TVs, according to Huawei's latest annual report.

Huawei did not disclose which processing chip it had used to power the newly-launched laptops. But it said the computers' relatively high prices were the result of the cost of new manufacturing technology for the chipset.