Sony to bring digital store to the masses

Sony is reportedly gearing up to launch an online portal for digital entertainment division. The new store, named Sony Online Service, will sell digital copies of music, movies, and books along with other downloadable applications for mobile gadgets. The company's new service will enter into a heated and cruel market, dominated by Apple's iTunes.

The Sony Online Service will bring much needed profit to the company's portfolio. Chairman and CEO Howard Stringer has sought after a software strategy since taking over in mid-2006, and analysts believe the company has been too focused on hardware, saying "it has to focus on networked products and delivery of digital entertainment to consumers."