A woman using an iPhone visits the 27th Janadriya festival on the outskirts of Riyadh in this February 13, 2012 file photo. Saudi Telecom Co (STC) is a company with a market capitalisation of $21 billion but no permanent chief executive. It has spent billions of dollars to buy foreign assets, but competitive pressures may force it to focus more on domestic business. Annual profits at Saudi Arabia's biggest telecommunications operator have fallen 43 percent from their 2006 peak, and its part-privatisation has had only limited success in spurring it to make the cost cuts which analysts believe are needed to reverse the slide. REUTERS/Fahad Shadeed/Files (SAUDI ARABIA - Tags: SOCIETY BUSINESS TELECOMS)