Exactly. Phones without FM capabilities can now listen to FM radio. It even works in "airplane mode", since you're not actually streaming anything from a server.

And by the way, most phones have the FM chip purposely disabled... forcing you to stream data from the internet.

But with this device, anybody can get FM radio.

Got it. This could be a US thing.. Asian phones almost all have this feature.

Also, your competition is probably a simple 10$ FM radio on aliexpress/amazon.