Mobily focuses on infrastructure investments, logs revenue from all segments: exec

Majed Alotaibi, Chief Business Officer of Etihad Etisalat Co.   

Etihad Etisalat Co. (Mobily) is focusing on infrastructure investments, including the 5G and the Internet of Things (IoT), Majed Alotaibi, Chief Business Officer, told Argaam on the sidelines of the ICT Indicators Forum 2023.

He added that these investments boosted the telco's revenues and contributed to opening new revenue channels, whose impact appeared in the last two years.  

"Investments are still ongoing," Alotaibi noted.  

He added the company intends to add some new technologies to its investments during the next stage, such as artificial intelligence and dealing with big data, which started to be reflected in the firm's revenues. 

The 5G dominated the largest portion of Mobily's investments, while cloud computing and IoT contributed to the increase in investments. 

Touching on the impact of interest-rate hikesAlotaibi said this had a financial impact on the company, but the growth does not depend only on the increase in the cost of debt. 

He added that some companies have the ability to improve profit margins in light of the high cost of debt, which is not to be necessarily negative. 

All Mobily segments witnessed growth in revenue, with the business division contributing 10-13% to total revenue, Alotaibi said. 

The telecommunications market is full of opportunities and challenges, as it is a promising market heading for growth, the executive added.  

He concluded that Mobily continues to expand in networks, diversify its services and improve customer experience.