Though no official details about the music streaming service has been announced yet, CNET’s sources revealed that Apple will be offering it for free and will easily work on mobile handsets and will be connected to iTunes. Apple is presently in negotiations with the music groups for per stream rates.

According to sources, the deal hasn’t been finalized yet, but chances are that signing may take place as early as next week. Apple is also interested in rolling out services as soon as possible in several territories including U.K, Australia, Japan, France and Germany notes Paul Sloan.

It is expected that Apple might announce the new music streaming service at its annual Worldwide Developers Conference which will take place in June this year. Earlier there were reports that Apple’s chief Tim Cook had a chat with Beats CEO Jimmy Lovine regarding Apple’s streaming service.

It is likely that Apple may allow users to buy and listen to music they like via the new streaming service as well – thanks to iTunes Music Store.