Amazon CEO Jeff Bezos shows off his company's new Fire smartphone at a news conference in Seattle, Washington June 18, 2014.
IN PHOTO: Amazon CEO Jeff Bezos shows off his company's new Fire smartphone at a news conference in Seattle, Washington June 18, 2014. Bezos unveiled a $200 smartphone called "Fire" on Wednesday, equipped with a 3D-capable screen and an ability to recognize music and TV shows, hoping to stand out in a crowded field dominated by Apple Inc and Samsung Electronics. REUTERS/Jason Redmond (UNITED STATES - Tags: SCIENCE TECHNOLOGY BUSINESS TELECOMS TPX IMAGES OF THE DAY) REUTERS/Jason Redmond

Kindle Unlimited could be the newest venture cooking at the Amazon camp. We have already had such similar services for movies and music. Book lovers no doubt will be happy Amazon might be prepping something on the same lines for them as well. There could be no less than 600,000 titles for the taking for a monthly subscription of $9.99.

There have been rumblings of such a service taking shape at Amazon, claims GigaOm. However, there is no word on when it will be launched. Amazon has pulled down the test pages which were spotted by keen eyed readers at Amazon Board. The service once it's launched will compete with the likes of Scribd and Oyster both of which offer unlimited ebook downloads for a flat monthly subscription rate.

Experts believe this is a smart move on part of Amazon as it moves to gain traction ahead of both Scribd and Oyster, reports BBC. Apart from the over 600,000 ebooks including Kindle exclusives, there will also be several thousand audiobooks on offer as well.

Amazon currently has the Kindle Owner's Lending Library which plays hosts to over half a million titles. However, the service currently allows only one eBook download per month for its Prime customers. Above all, books from lending library can only be read on Amazon devices which include Kindle Fire tablets or eReaders. With Kindle Unlimited, there will be no such binding as it will allow unlimited downloads and can be read on any device via the Kindle app, claims Time.

However, the Kindle unlimited venture does not have the blessings of the big 5 of the publishing industry - Penguin Random House, Simon & Schuster, HarperCollins, Macmillan, and Hatchette, reports Gizmodo. Many amongst these tied up with Scribd and Oyster which provides them with somewhat of an edge against Amazon Unlimited. Amazon is currently embroiled in a bitter tussle with Hachette, which rules out inclusion of the latter's ebooks anytime soon. As the Time report points out, maybe publishers are skeptical of providing too much power to Amazon.

Many of the titles that have been included in the Kindle unlimited plan have been sourced from Amazon's own publishing division.