Amazon.com is preparing a download service to rival Apple's itunes. This may be quite a challenge, seeing as how itunes is fast approaching the one billion downloads mark. However, if any online company has a shot at taking a sizable fraction of the market, it could very well be Amazon. It may be assumed that Amazon believes their online clout will be strong enough to break Apple's stronghold over the downloading industry.
The Financial Times reported that the retailer has met with representatives from major labels and is at work putting the final touches on its system. The site plans to launch the service as early as this summer, according to the Times’ report.