Riyadh – Mubasher: Etihad Etisalat Company (Mobily) has signed a memorandum of understanding (MoU) with Huawei to trial fifth generation (5G) wireless network for the first time in Saudi Arabia.
The deal was signed on Monday, 26 February on the sidelines of the annual Mobile World Congress in Barcelona.
Mobily is seeking to achieve the objectives of Saudi Vision 2030, including raising high-speed internet coverage across the regions in the kingdom, CEO Ahmed Abou Doma said.
The Saudi telecommunications provider plans to sign further contracts with other firms to launch new telecom tower technologies, Abou Doma added.
Mobily reported a 158.83% year-on-year increase in its net loss, registering SAR 181.7 million during the fourth quarter of 2017, up from SAR 70.2 million in Q4-16.
By 12:32 pm KSA time, Mobily’s stock increased 0.42% to SAR 14.50.
