The Register is reporting on rumors that Nokia will jump on the music download bandwagon.

Nokia is on the verge of launching its own iTunes-like music downloads service, if rumours are correct. Online reports suggest the handset vendor is to unveil the service later this month, alongside two new music-oriented handsets.

Speculation has it that Nokia will unveil the service on 29 August at the Ministry of Sound nightclub in London. The unnamed service could allow users to download songs, and potentially games, onto their PCs and then transfer them to their mobile phone or other music player.

Nokia already offers a podcasting capability on some of its phones and offering an iTunes competitor that works seemlessly with Nokia phones would be a good addition.