Apple to compete with Spotify, Rdio on streaming

The Beats headphone store in the SoHo neighborhood of New York City.
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Apple has shed light on its plans for its recently acquired Beats Music services, according to one report. reported on Wednesday that the tech giant is planning to use Beats' technology and music content to create a new paid streaming music service to compete with Spotify and Rdio. The California-based company plans to integrate Beats' technology and music content into iOS, its operating system, the report said. Apple is also currently developing new versions of the Beats Music application for mobile devices.

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Apple's new concept of the Beats Music service will also let users stream any song from both the iTunes and Beats catalog and their personal libraries, the report also said.

While a starting price has not been confirmed, the website said Apple is considering a $7.99-per-month price tag for the new service, $2 per month less than its competitors.

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Nevertheless, the service's March release is in the air and could be delayed until June's Worldwide Developers Conference, as company executives are unclear on the projects direction, the report added.

Apple acquired Beats Electronics for $3 billion last August.

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Apple declined to comment.

Read the full report here.