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Asymptotic Diophantine approximation: The multiplicative case

Let $α$ and $β$ be irrational real numbers and $0<\F<1/30$. We prove a precise estimate for the number of positive integers $q\leq Q$ that satisfy $\|qα\|\cdot\|qβ\|<\F$. If we choose $\F$ as a function of $Q$ we get asymptotics as $Q$ gets large, provided $\F Q$ grows quickly enough in terms of the (multiplicative) Diophantine type of $(α,β)$, e.g., if $(α,β)$ is a counterexample to Littlewood's conjecture then we only need that $\F Q$ tends to infinity. Our result yields a new upper bound on sums of reciprocals of products of fractional parts, and sheds some light on a recent question of Lê and Vaaler.