Microsoft on Friday confirmed reports that the company is developing a portable music player and corresponding service, for release later this year, that will compete with market leader Apple’s iPod and iTunes Store. “Today we confirmed a new music and entertainment project called Zune,” Chris Stephenson, Microsoft’s general manager of marketing, told Billboard. “Under the Zune brand, we will deliver a family of hardware and software products, the first of which will be available this year. We see a great opportunity to bring together technology and community to allow consumers to explore and discover music together.” In addition to the music player — which Microsoft confirmed will feature a hard drive and Wi-Fi connectivity — a Zune-branded portable video player and handheld video game device are slated to follow. The company told Billboard it is looking at wireless features such as allowing Zune owners to view one another’s song playlists, access songs stored in online lockers, and download music directly to the device.

http://tinyurl.com/qnvqb