Zain Saudi’s subscriber base falls 20% in Q3

Mobile Telecommunications Company Saudi Arabia’s (Zain Saudi) subscriber base contracted 20 percent year-on-year (YoY) in Q3 2017 to 8.6 million, in line with the drop in number of users across the local market.

Accumulated losses for the current period stood at SAR 2.22 billion, representing 38 percent of the telecom operator’s capital of SAR 5.83 billion, Zain Saudi said in a statement.

The company posted a net profit of SAR 3 million in the third quarter versus a net loss of SAR 266 million in Q3 2016.