Ooredoo is an international company specializing in telecommunications, which has been operating in the market for more than 30 years. The company provides mobiles, Internet services, such as wireless and wireline, and content services that meet customers’ current needs. Ooredoo was founded in 1987 in Qatar, where the head office is currently located (“Ooredoo Q.P.S.C.,” 2020). However, the company provides services not only in Qatar; the organization operates in ten countries in the Middle East, North Africa, and Southeast Asia.
Today, Oman is one of the locations where Ooredoo operates and engages customers. The company was registered in Oman in 2004 under the name of Nawras, but it started to operate in 2005. However, the name of the company was changed to Ooredoo in 2014 (“About Ooredoo,” 2021). Today, its headquarters is in Doha, the capital of Qatar.
In terms of financial performance, with a great team of more than 1,000 employees at Ooredoo, the company has achieved a net profit of OMR 33.9 million in 2018 (Ooredoo, 2019). In relation to its customer base, in 2018, Ooredoo had 3,013,688 clients, which is a good result (Writer, 2019). Over the past twelve months, the company’s asset turnover has changed from 0.61 to 0.66, while its receivable turnover has also increased (from 5.91 to 6.65) (“Ooredoo (ORDS),” 2021).
Regarding the price, over the past two years, this indicator has decreased, which indicates the lack of progress: in February 2019, the parameter was 0.500, and in February 2021, it dropped to 0.408 (“Ooredoo (ORDS),” 2021). However, in the stock market, the company demonstrates relative success as its share price is growing at the moment, albeit slowly (“Ooredoo Oman overview,” 2021). High competition in the considered market segment is one of the factors hindering the dynamic growth of Ooredoo and the rapid accumulation of profits.
Ooredoo is a participant in the telecommunications market, but the company not only sells digital devices but also performs other activities. In addition to mobile and content services, the organization develops applications and cloud technologies (“Ooredoo business,” 2021). Moreover, the company also provides consulting services and interacts with government representatives, which sets it apart from many other similar firms (“Ooredoo business,” 2021).
Establishing a productive telecommunications system through the promotion of highly efficient programs and equipment is the main goal of Ooredoo. Nevertheless, in general, the company aims at innovative development and the promotion of advanced data exchange algorithms, which is a valuable condition for overcoming the competitive barrier. Therefore, the constant engagement of new customers and the assessment of financial growth indicators are valuable tasks to implement to monitor progress and ensure the possibility of increasing business creditability.
References
About Ooredoo. (2021). Ooredoo. Web.
Ooredoo. (2019). Oman’s digital pulse. Web.
Ooredoo business. (2021). Ooredoo. Web.
Ooredoo Oman overview. (2021). PitchBook. Web.
Ooredoo (ORDS). (2021). Investing. Web.
Ooredoo Q.P.S.C. (2020). Forbes. Web.
Writer, S. (2019). Oman’s telecom overview: 2018-19. Business Live Me. Web.