• Bloomberg, Tuesday, November 3, 2009 10:17 PM

Retailer Best Buy plans to compete with Apple's iTunes with a new online store for movies and television shows. The service will use technology licensed from Sonic Solutions, which will be installed on televisions, computers, Blu-ray players, set-top boxes and mobile phones sold by Best Buy.

The content will be stored on servers so people can watch on any device, similar to how Web-based e-mail can be viewed on different computers, says Sonic CEO Dave Habiger. "We're creating movies and TV in the cloud that play back anywhere," Habiger says.

This digital video store expands Best Buy's foray into services, which is designed to increase customer loyalty. Best Buy services also include Geek Squad technical support.

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