Telecoms Profits fall as Omantel loses subscribers to rivals By Saleh Al-Shaibany March 12, 2025, 5:04 PM Pixabay Omantel's market share fell five percentage points in 2024 to 48 percent of subscribers in the country, hurting profits Market share drops five points Net profit falls 3% Profits have fallen at Oman Telecommunications Company after it lost market share to competitors. Omantel, Oman’s largest telecommunications provider, said net profit was down 3 percent last year to $795 million. Market share fell five percentage points in 2024 to 48 percent of a total of 7.1 million subscribers in the country, down from 53 percent the year before, it said, without giving absolute numbers for 2023. Ooredoo to build high-speed data network for GCC Gulf’s push for 6G networks comes too soon, say telecoms experts Oman to acquire its first national satellite “Omantel still has a lion’s share of the local telecom market, but last year its competitors have been a little more aggressive and managed to get a better business edge over them,” Harib Al-Habsi, a telecommunication analyst, told AGBI. The competitors are Qatar’s Ooredoo, Vodafone and the Omani company Awasr. Omantel offers a range of services, including fixed line, internet, mobile and wholesale communication services. It also provides data centre services and software as a service. In 2017 Omantel acquired 12 percent of Kuwait’s Zain Group. Founded in 1987, Omantel is majority owned by the state sovereign wealth fund Oman Investment Authority.
