NEW YORK • What business is Apple hoping to take a bigger bite of? On Monday, it invited media to a March 25 event at its campus in Cupertino, California, where it is expected to launch a television and video service.

In its invitation, it did not specify the focus of the event and merely said: "It's show time."

Apple has long hinted at a planned video service, spending US$2 billion (S$2.7 billion) in Hollywood to produce its own content and signing major stars such as media mogul Oprah Winfrey.

Sources told Reuters the service may resell subscriptions from CBS, and Viacom, among others, as well as Apple's own original content.

It is expected to launch globally, an ambitious move to rival services from Netflix and Amazon's Prime Video.

Potential sales from a TV service have become a focus of investors after Apple in January reported a first-ever dip in iPhone sales during the key holiday shopping period.

Apple is also in talks with HBO to become part of the service.

REUTERS