The Kuwait Mobile Telecommunication Company (MTC) recorded a 24 percent drop in profits in the first half of 2002, reaching 36.75 Kuwaiti dinars. MTC distributed dividends of 76 fils for the first six months of the year compared to 100 fils during the same period last year.
Two service providers currently operate in Kuwait’s Global System for Mobile communications (GSM) market—newcomer Watania, which launched operations in 1999, and MTC, which pioneered the service in 1983.
In 2001, the two companies served a total of 930,000 mobile subscribers, representing over 40 percent of the Gulf state’s 2.15-million strong population. Some 542,000 cellular lines are currently subscribed with MTC, giving it a 58 percent market share, according to an Arab Advisors Group report. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
