Saudi Arabian mobile network operator, Mobily, has been named in the country’s top ten most valuable brands, with a net worth of $1.1 billion.
Mobily ranked ninth in a new report, published by UK based analyst firm, Brand Finance, increasing its revenues by 31 per cent over the past 12 months.
"The Brand Finance ranking testifies to our company’s hard work and steadfast achievements over the past period," Mobily’s CEO, Salman Al Badran, told journalists from Trade Arabia.
"Our efforts at all levels and across all departments over the past years translated into more satisfied customers due to ongoing enhancements in the quality of our services, and thus all indicators followed suit," he added.
Mobily has launched 5G home broadband across Saudi Arabia and will hope that its significant capital investment in its 5G network architecture will act as a catalyst for revenue growth when demand for mobile 5G services begins to grow in the Kingdom.
Mobily is the Saudi Arabian subsidiary of UAE based telecoms giant, Etisalat. Etisalat was recently ranked as the most valuable telecoms brand in the Middle East, in an earlier edition of the Brand Finance report.