Amazon to Build iPod & iTunes Killer? announced plans to take on iTunes and iPod as early as this summer. It will launch its own Internet music service as well as sell its own branded portable music players.

The online retailer still needs to sign licensing agreements with the four big music companies.

Amazon is thinking about offering the players, which may be built by Samsung, free as part of a subscription offer, or selling them with preloaded songs that could be swapped out for other songs.

Somehow we think it would be appropriate for you to play “Video Killed the Radio Star” now. As part of our customer empowerment program, we’ll let you make up the reason why.

Report: Amazon to Compete with iTune, iPod [ComputerWorld]