stc Group, an engine of digital transformation, has been acknowledged as the most valuable telecom brand in the Middle East for the fourth year in a row. It has also been acknowledged as one of the top 10 strongest telecom brands in the Middle East, and the strongest brand in Saudi Arabia.
Exclusive: stc Group CEO: ‘Our Core Focus Is Connectivity and Digitalization’
The Brand Finance Global 500 2024 report states that stc has shown impressive growth, with its brand value increasing by 12% to USD 13.9 billion. Being recognized as the 149th most valuable brand in the Global 500 ranking makes stc the first consumer brand in the Middle East to enter the 150 most valuable brands globally. The Group has increased its position by 10 places from 159 in 2023.
In 2023, stc witnessed its highest levels of success since its inception. stc saw significant progress in the development of its digital infrastructure, particularly through the expansion of its 5G network, with SAR 3 billion of added investment. This enabled stc to deploy 5G network capabilities in over 75 cities throughout the Kingdom, equipping over 90% of its major cities with 5G technology.
Exclusive: stc Delivers on Its Mission to Connect the World Through Technology
Led by a growth mindset, stc is expanding internationally through strategic global acquisitions. One significant acquisition includes securing a 9.9% stake in Spain's Telefónica Group, which was acquired for SAR 8.5 billion (EUR 2.1 billion). This strategic move positions stc as the largest shareholder in Telefónica.
All in all, this accomplishment is a direct outcome of stc Group’s growth strategy, which focuses on delivering world-class connectivity to Saudi Arabia and beyond. The Group’s growth mindset enables it to identify and deliver cutting-edge technologies, continuously expanding the scale and scope of its product and service offerings.
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