Apple iPhone generated a huge $61 billion in the quarter, helped by solid demand for its premium X model, and Apple now accounts for more revenue than the rest of the entire global smartphone industry combined.
The most significant relative gains in the region are expected in the UAE where artificial intelligence is expected to contribute almost 14% of GDP in 2030, followed by KSA (12.4%). The impact could be even larger if governments continue to push the boundaries of innovation and implementation of AI across businesses and sectors between now and 2030.
The news comes just a few days after the release of Saudi businessman Waleed al-Ibrahim, who has management control of MBC. Reuters reports senior Saudi officials saying that Ibrahim agreed to an “undisclosed settlement after admitting to unspecified violations”.