DALLAS and BEIJING, Oct. 29, 2013 /PRNewswire/ -- NQ Mobile (NYSE: NQ)("NQ Mobile" or the "Company"), a leading global provider of mobile Internet services, today announced that China Mobile has licensed the Company's audio-based music search technology for integration into China Mobile's Migu music service.
China Mobile's Migu mobile music service brand is a popular legitimate music service in China, with an 83 percent share of China's wireless music market. According to the China Internet Network Information Center, China's wireless music market comprised more than 700 million users as of July 2012, and with Internet music services in China valued at nearly CNY 2.8 billion (USD 460 million), these services represent the second largest Internet application after search engines.
"As NQ Mobile continues to expand and offer a broad spectrum of mobile internet services, this deal with China Mobile is a solid testament to our mission and our technology," stated Henry Lin, co-CEO of NQ Mobile. "We are extremely proud that our solution has been selected by China Mobile for integration into their popular mobile music platform. This deal reinforces the superiority of our technology and highlights NQ Mobile's status as partner of choice for cutting-edge, high-growth wireless services."
According to Zhu Hong, general manager of China Mobile's Wireless Music Base, the service is the most complete authorized music library in China, with annual revenues over CNY20 billion (USD3.21 billion) for three consecutive years. According to an interview with Zhu Hong, Migu had more than 1.68 million songs and served over 1.3 billion downloads in 2011.
About NQ Mobile
NQ Mobile Inc. (NYSE: NQ) is a leading global provider of mobile Internet services. NQ Mobile is a mobile security pioneer with proven competency to acquire, engage, and monetize customers globally. NQ Mobile's portfolio includes mobile security and mobile games as well as advertising for the consumer market and consulting, mobile platforms and mobility services for the enterprise market. As of June 30, 2013, NQ Mobile maintained a large, global user base of 372 million registered user accounts and 122 million monthly active user accounts through its consumer mobile security business, 87 million registered user accounts and 16 million monthly active user accounts through its mobile games and advertising business and over 1,250 enterprise customers. NQ Mobile maintains dual headquarters in Dallas, Texas, USA and Beijing, China. For more information on NQ Mobile, please visit http://www.nq.com/.
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