Sample Term Paper
The objective of this paper is to analyze the growing trends and opportunities which are available in the Saudi Arabia’s mobile telecommunication market. The company on which much focus is driven is Saudi Telecom Company (STC). Apart from the various aspects that have been discussed in the paper, there are several key facts and figures that would help in gaining a better understanding about the prospects the company has in the industry.
Mobile phone industry:
The international mobile phone industry comprises of all the digital and analog handsets which are used in the mobile technology. In the year 2008 the total revenues generated from this industry was around $101 billion. This figure is enough to show that this is a billion dollar industry, with lots to explore and extract. Similarly another astonishing figure that would help in understanding the potential of this industry is the compound annual growth rate of this industry, which during the period of 2004-2008 was 12.2%, this also shows the fact that the industry is on the rise (Datamonitor, 2009).
Future Trends in the mobile phone industry:
Researchers have forecasted the future trend of this industry as very bright, and they have predicted that by the end of the year 2013 the market volume would increase to 1.5 billion units. Apart from that the market worth of the overall mobile phone industry is expected to be $157 billion which in other words means an increase of 55.3% since 2008 (Medford, 2008).
Constantly enhancing technology has made this market very competitive, where more and more mobile centric applications are launched every day. This is the reason companies like Nokia, Motorola, Samsung etc focus on bringing innovation in their product and fulfilling what the customer’s wants. Also the reason why innovation is important to survive in this business is because the trend has now changed, now the mobile phones are not only used for talking or getting in touch, but now the consumers demand an increasingly high standard of functionality in their cellular phone (Schloter, 2005).
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