Amazon planned to launch film streaming service

One of the largest retailers of US, Amazon.com has planned to launch a video streaming service, which will compete Netflix Inc directly, said Financial Times.Amazon is planning to launch its own streaming service with Amazon Prime, a scheme that offers Amazon customers to unlimited free shopping of books and other itmes sold by the online retailer after paying the fee, Financial Times said, citing a person with Amazon plans.

Amazon's has just agreed they are going to buy 58 percent of British DVD and games rental firm Lovefilm that it doesnot already own for an undisclosed price. Amazon haven't immediately replied to the Reuters call seeking comment.

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