Apple expected to launch its Netflix rival on March 25

Apple has announced its latest media showcase event is set to take place on March 25, where it is expected to launch its hotly anticipated streaming service.

Yesterday the tech giant invited various media outlets to the Steve Jobs Theatre in its headquarters in California for the event, but in true Apple style failed to give any information about what it would cover.

However, it appeared to tease the release of its new TV service, thought to include its own branded subscription streaming platform, stating: “It’s show time.”

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According to Reuters Apple has ploughed $2 billion (£1.53 billion) into creating original content for its Netflix rival, enlisting the help of stars such as Oprah Winfrey.

It is also reportedly in discussions with HBO and WarnerMedia in an effort to include their programming as part of the service.

This marks a significant shift away from Apple’s focus on hardware, coming off the back of falling iPhone sales in key markets which saw it report its first decline in profits for 10 years in January.

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