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News
Nokia Announces Plans to Take on iTunes
Monday, August 7th, 2006 at 3:00 PM - by Brad Cook
Cell phone maker Nokia will launch its own online music store next year. The company will use digital music distributor Loudeye, which Nokia said it will acquire for US$60 million, as the platform for it, according to the Financial Times. Loudeye has a library of 1.6 million tracks. Nokia won't retain the name.
"We want to be a global leader in mobile music experiences, and if that means operating in areas where Apple is, then so be it," Anssi Vanjoki, executive vice-president of Nokia Multimedia, told the Web site. His company is the number one maker of cell phones that play music, with 45 million sold last year and 80 million forecast for this year. The service will let consumers buy music, download it to their phones, and pay for it on their bills.
Apple was unavailable for comment.
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