Samsung and Sony are planning to launch a TV streaming and media service in the South Korean country of South Korea, a media report said on Friday.
The report by the Korean Central News Agency said the service would launch by the end of this year.
The launch will be made possible by a joint venture between Samsung and the Korean electronics giant LG.
Samsung and LG signed a deal in August 2017 to launch two TV streaming services in South Korean market.
The South Korean TV streaming market has grown rapidly in the last two years.
The two companies have been working to expand their respective services.
According to the report, the service will offer a variety of content, including shows, movies, music and apps, as well as an option to stream content directly to Samsung’s Android and iOS smartphones.
The service will be launched by LG’s Smart TV brand and launched alongside LG’s TV streaming, the report said.
The service will also offer a similar feature to Roku TV, where users can access a large number of channels from any device.
The South Korean television streaming market is worth about $3.8 billion, according to the Korea Communications Research Institute.
The industry is projected to grow to $11 billion by 2021.
Samsung’s Smart TVs are the world’s biggest TV streaming devices.
LG’s LG TV brand also has a significant share in the TV streaming industry.
The LG TVs have a combined audience of 7.2 billion, which is more than twice that of Samsung’s Smart television brands.