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|China Mobile to License NQ Mobile's(TM) Music Search Technology for Migu Mobile Music Service|
Audio-based discovery technology to be integrated into app preinstalled on all of the operator’s smartphones
DALLAS and BEIJING, October 29, 2013 – 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 a 75 percent share of China's wireless music market. China Mobile has surpassed more than 740 million subscribers as of August 2013, 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.
“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.”
China Mobile’s Migu mobile music service is the largest authorized music library in China, with more than 2.3 million songs in its library and annual revenues over CNY20 billion (USD3.21 billion) for three consecutive years.
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