SamsungSamsung, which earlier tried its luck with its own video streaming service, failed drastically. But it hasn’t deterred the Korean giant, to re-launch the same, in a shorter format.

As per reports from The Information, the company has put aside ‘several tens of millions of dollars’ for the investment in mobile video service. It also said that the project, which is code named Volt is being overseen by John Pleasants, who managed Disney’s mobile services and gaming business before joining the Korean tech giant.

The new service from Samsung may not be free and it will possibly charge a few dollars on a monthly basis from its users. Samsung isn’t the only tech company to jump into this market. Apart from big video services like Hulu and Netflix, companies such as Microsoft, Sony, Yahoo, AOL are working hard to make their own videos for the video watchers.

Though it may be planning a new consumer media service, Samsung’s track record for the same hasn’t really been very good. It’s Media Hub didn’t work which was similar to Google Play Store for Movies and TV shows. Its music streaming app – Milk hasn’t really been able to stand up to the already established players in the music streaming market.

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