November 15, 2010 / 4:45 PM / in 7 years

Apple to make iTunes announcement Tuesday

SAN FRANCISCO (Reuters) - Apple Inc is set to make an announcement Tuesday about its iTunes Store, the leading music retailer in the United States.

<p>Apple Inc. CEO Steve Jobs smiles at the end of the iPhone OS4 special event at Apple headquarters in Cupertino, California in this April 8, 2010 file photo. REUTERS/Robert Galbraith</p>

Apple posted a message on Monday on the iTunes website, teasing an announcement to be made at 10 a.m. Eastern Standard Time, but gave few clues.

“Tomorrow is just another day. That you’ll never forget,” the message read.

The iTunes store raked in more than $1 billion in revenue last quarter. The company launched iTunes 10 in September, and also unveiled Ping, a new social networking service.

Apple’s iTunes is the largest digital music store in the United States, and it also sells and rents movies and television shows. More than 10 billion songs have been downloaded from the iTunes Store since it launched in 2003.

Shares of Cupertino, California-based Apple were off 0.2 percent to $307.50 in late morning trading on the Nasdaq.

Reporting by Gabriel Madway, editing by Gerald E. McCormick

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