Kuwait’s third telecoms operator Viva, an affiliate of Saudi Telecom Company, aims to attract 300,000 subscribers in its first year of operation, its chief executive Najeeb Alawadhi says.
Kuwait, a country of more than three million people with mobile phone penetration of more 90 per cent, sold a 26 per cent stake in the state-created firm to Saudi Telecom for KD248.7 million ($930.4 million).
The new company, which launched its brand name Viva recently, will compete with Mobile Telecommunications Company (Zain) and National Mobile Telecommunications Co (Wataniya), a unit of Qatar Telecommunications Co, when it launches operations by the end of the year.
“We target a market share of 10 per cent, that means around 300,000 subscribers for the first year,” Alawadhi said.
Zain said it had 1.75 million subscribers while Wataniya had 1.27 million subscribers at the end of June.
Alawadhi declined to give a medium-term forecast for subscribers, market share or profits.  He said Viva saw an opportunity despite the high mobile penetration.
“The market can still absorb more. In the UAE the penetration is more than 100 per cent,” Alawadhi said.
Like other Gulf Arab oil exporters, Kuwait is attracting a growing number of guest workers as regional economies boom on windfall oil revenues.