Price point is way too high. I can buy a portable radio from Target for $10.
If it were just an app (no hardware) with a price point in the $5-10 range, I'd find it useful. Not sure whether that's even possible though. The existence of cheap competitors sets a ceiling on what you can charge for it.
Love the concept! But, with things like Spotify/App Music/Sound Cloud and many more streaming services, I think a very small population of users actually use radio.
[Suggestion] Can this have some application in Medical or SOS or listening to police scanner?
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.