Hewlett-Packard is reportedly planning to launch its own cloud based music storage and streaming service.
According to an article on Billboard, the company is in talks with major US movie and music labels to offer cloud based services centered around music, movies and TV shows. Apparently, the company has been holding talks for the past few months.
Back in April, Precentral.net procured an internal HP marketing presentation for its TouchPad tablet PC which indicated that the tablet will launch with HP stores for movies and music.
"They're debating doing something like Qriocity for a variety of media, which can be delivered on any HP device. We don't know how serious they are." an executive with a major music label told Billboard.
Why HP chose to mention the music and movie stores in the marketing presentation is unclear because the company has yet to secure licensing deals for the services and is apparently still in the early stages of the talks.
If HP decides to offer music and movie streaming services for webOS based devices, the company would be the latest in a line of tech heavyweights like Amazon, Google and Apple vying to gain a foothold in the lucrative content streaming market.