SR.No: 8
Saudi Telecom Company (stc)
Sector: Telecommunications
Date of Establishment: 1998
Country: Saudi Arabia
Group CEO: Olayan M. Alwetaid
Sales: $15.7 billion
Profits: $3 billion
Assets: $32.5 billion
Market Value: $67.7 billion
Saudi Telecom Company (stc) is the biggest telecom operator in Saudi Arabia in terms of revenue. In January 2021, stc, in partnership with Saudi Aramco, announced the launch of Dammam 7, a new supercomputer that will be among the top ten most powerful in the world. Olayan M. Alwetaid was appointed Group CEO in January 2021, and began working in the role in March. Previously he was senior VP for the consumer sector and the CEO of stc Bahrain.