NQ's Khan puts the number even higher -- at one out of every two.

CNN: Check your phone: Nations with the most mobile malware

After the IPO, hundreds of millions of shares of NQ options previously granted to employees were exercised.

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Search engine giant Baidu (BIDU) and mobile security supplier NetQin Mobile (NQ) have already invested heavily outside China.

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The NQ report also revealed that China, India and Russia were the top three countries with infected mobile devices.

CNN: Check your phone: Nations with the most mobile malware