News
Nokia to take on iTunes
Stuart O'Brien Aug 8 2006, 11:15am
Nokia is preparing to take on Apple's iTunes service with the acquisition of digital music specialist Loudeye for $60 million.
There are no details of specific service launches just yet, but Nokia says the deal will enable it to "offer consumers a comprehensive mobile music experience, including devices, applications and the ability to purchase digital music."
Nokia's much-anticipated move into the music download space will send shivers down the spine's of Apple execs and specialist mobile music platform providers like WiderThan and Groove, not to mention their operator customers.
The Finnish company says its shipped 15 million music-enabled devices in 2Q06, led by flagship products like the N91 (already labeled an 'iPod killer').
Anssi Vanjoki, EVP and GM of multimedia at Nokia said: “Music is a key experience for Nokia and Nokia Nseries multimedia computers. People should be able to access all the music they want, anywhere, anytime and at a reasonable cost. With this acquisition, we aim to deliver that vision and a comprehensive music experience to Nokia device owners during 2007.”
Loudeye operates 60 live services in 20 countries, aggregating rights and content from all the major labels and independents. It currently offers a licensed catalog of 1.6 million tracks.
