SHENZHEN, China, July 24, 2015 (GLOBE NEWSWIRE) -- Xunlei Limited ("Xunlei" or the "Company") (Nasdaq:XNET), China's leading provider of acceleration products and services, today announced a strategic partnership with iQIYI, a leading online video streaming services provider in China, whereby Xunlei's Project Crystal will provide crowd-sourced bandwidth services to iQIYI.
Project Crystal is an ongoing project involving technology innovation in crowd-sourcing idle bandwidth and potentially storage from Xunlei's user base, by providing crowd-sourced bandwidth without investing in hard assets. This project grew from Xunlei's traditional technology for Xunlei Accelerator. Project Crystal, under the trademark Nebula CDN, allows video users to enjoy smooth video viewing experiences in various complex network environments and enables internet content providers to increase the stability and security of their services and to reduce operating costs.
"This partnership with iQIYI is a major milestone for Project Crystal, in terms of product development, market acceptance and its competitive value proposition. The size and geographic diversity of iQIYI's user base, the complexity of iQIYI's video streaming services and its planned adoption of crowd-sourced bandwidth from Project Crystal are a testimony to both Project Crystal's maturing technology and increasing value proposition. We look forward to our cooperation with iQIYI and other internet content providers in China," said Mr. Sean Zou, Chairman and Chief Executive Officer of Xunlei.
Xunlei Limited ("Xunlei") is the No. 1 acceleration product provider in China as measured by market share in March 2015, according to iResearch. Xunlei operates a powerful internet platform in China based on cloud computing to provide users with quick and easy access to digital media content through its core products and services, Xunlei Accelerator and the cloud acceleration subscription services. Xunlei is increasingly extending into mobile devices in part through potentially pre-installed acceleration products in mobile phones. Benefitting from the large user base accumulated by Xunlei Accelerator, Xunlei has further developed various value-added services to meet a fuller spectrum of its users' digital media content access and consumption needs.
iQIYI, a pioneer in online video services in China, was established in April 2010 to promote the spirit of "Joy & Quality." iQIYI has successfully built an online video ecosystem that includes e-commerce, game, and movie ticketing, building key connections between people and services and developing a diverse video website business model.
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