We wanted to provide you with an update around the new partnership with Huawei that we announced today. Our audio-based search technology and our own music search application, Music Radar, has been building traffic and users since we officially launched the product last fall. We are thrilled at the ramp in our users and traffic associated with this product and technology.
Up to this point, we have focused on building a great product with differentiated technology and driving user traffic. Today we updated the market on a significant new milestone. We are now seeing more than 6 million unique daily search queries making us one of the largest and most popular music search products and platforms.
Today’s new partnership with Huawei introduces the beginning of another major milestone with our audio-search technology — revenue sharing. While we will continue to drive more technology licensing deals with partners like the ones we’ve already announced with China Mobile, TTpod, and Kugou, we are now beginning to open up a direct revenue sharing opportunity.
Huawei is one of the largest RBT (ring back tone) suppliers in the world and provides service to around 240 operators in 80 countries. The revenue generated through RBT services is significant. NQ Mobile will now share in these revenues by helping Huawei to offer a more streamlined user experience around the search and selection of music in such RBT applications.
Our platform of products and services continue to build with these new revenue producing opportunities.
NQ Mobile IR