Telecom operator Etisalat on Saturday announced that it became the first in the region to conduct live 5G trials, and to launch a live and operational Telco Cloud infrastructure as part of its virtualisation plans. Etisalat was ranked number one in the UAE for the highest fibre network connectivity, with household penetration of 93.7%.
Etisalat chairman Eissa Mohamed Al Suwaidi said the group continues to strengthen its position as one of the leading operators in emerging markets. H added that the compan have crossed another critical milestone in 2016, as it started to pursue an ambitious agenda in the digital space; the same is a necessity in order to maintain our leadership position in local and international markets as digital becomes the next big thing. The company will continue to providing governments, businesses and individuals with innovative, simple, and relevant solutions that harness the power of technology and maximizes their potential.
Etisalat was in the final phase of rolling out its 5G network in Dubai. This is part of the Dubai Smart City initiative 'Smart Dubai’ which was born out of the approach of Sheikh Mohammed Bin Rashid to focus on the city’s unified effort towards its people.
Etisalat announced a net annual profit of Dh8.4 billion for 2016, and proposed a final dividend payout of 40 fils per share for the second half of 2016, representing a total dividend payout of 80 fils for the full year.
The telecom giant reported two per cent growth in consolidated revenues to Dh52.4 billion for 2016. In the fourth quarter revenues rose three per cent to Dh12.9 billion, while net profit after federal royalty was Dh2.2 billion.
While the group's aggregate subscriber base reached 162 million, in the UAE it grew to 12.3 million subscribers in the fourth quarter of 2016 representing a year on year growth of six per cent. "Subscriber growth continued to be driven by strong performance of mobile and eLife segments. The mobile subscriber base grew year on year by seven per cent to 10.4 million subscribers," the group said in a statement.