Abstract: Telecommunication companies in Iraq are experiencing a huge competition in the market nowadays. Each company is striving to attract more customers through providing satisfactory and competitive services. In this study, Game Theory, which is one of the operational research modeling techniques is selected then used to evaluate performance of a number of telecommunication companies in Iraq after reconstruction. This research is set out to analyze the competition models of two leading telecommunication companies using Game Theory. Two local telecommunication companies based in Iraq; Asia Cell and Korek is used as a case study.