Apple has announced that the company will be closing down the online music streaming service, Lala, by the end of this month, hinting at the unveiling of the iTunes streaming service in the near future.
Lala was acquired by Apple at the end of 2009 amidst various speculations that Apple was on its way to provide online music streaming for its immensely popular iTunes music store, paving its way towards becoming a completely web based service.
According to a web post on the official Lala website, the company management announced to its members that the service will be shutting down on 31st May 2010 and that they have stopped taking new members.
The announcement also mentioned that Lala customers who have already paid for Lala services will be compensated with iTunes credit.
However, popular technology blog, All things digital, suggest that industry insiders believe the Cupertino based company has no plans whatsoever to launch an online music streaming service in the near future, making it difficult to assess what the company will announce at the upcoming WWDC conference.