(MENAFN) Zain, the telecom operator, said that its Zain Saudi has been able to reduce its losses during the October-December period of 2014 due to higher demand for Internet services and lower maintenance costs, Gulf Daily News reported.
During the fourth quarter of 2014, Zain Saudi, 37 percent owned by Kuwait's Zain, registered a net loss of USD82 million, down compared with USD122.95 million during the corresponding period of 2013, while its losses for 2014 as a whole also registered a decline, reaching USD 338 million compared with a net loss of USD439.13 million in 2013.
The company, which has been struggling to compete against better-resourced rivals Saudi Telecom Company and Etihad Etisalat, has yet to make a quarterly profit since launching services in 2008.
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