By: Aseem Gaurav, April 28, 2011 (New Delhi)
Apple's upcoming and long awaited 'cloud-based' online music storage and streaming service could bear the name iCloud.
According to popular tech site GigaOm, Apple has reportedly bought the domain www.iCloud.com from Swedish tech company Xcerion, for a hefty sum of $4.5 million.
Xcerion’s iCloud service have rebranded itself to CloudMe.
Recent reports reveal that Apple’s upcoming cloud-based music service is nearing completion. The service will let iTunes users to store their music and videos which they have purchased on Apple’s cloud in a digital ‘locker’ enabling them to stream the content to internet connected devices, such as the iPhone and iPad. Thus it eliminates the need of users to store the content locally on the device.
While Apple is still keeping the specifics under the wraps, sources in the industry say that major record labels are in talks with with the iPhone- and iPod-maker before the service is launched.
Amazon recently rolled out its own cloud-based digital storage service called Cloud Drive. The service offers 5GB of storage for free and then tiered subscriptions that allow storage up to 1TB.
