Reports are emerging that Google is going to create a new digital newsstand and is in talks with numerous newspaper and magazine publishers to ensure digital content for the new product.

Google's potential service for Android-based devices will compete with Apple's iTunes news subscription service, a report published in the Wall Street Journal said. Meanwhile, Apple is also making sincere efforts to dominate the digital periodical market.

Google's potential digital newsstand will feature apps from media companies offering versions of their publications for Android-based smartphones and tablets. Google believes that its newsstand will offer a more dependable experience for consumers who want to read periodicals on mobile devices.

On the other hand, the potential service will allow the media companies to benefit by selling their smartphone and tablet-versions of their publications.

Sources claimed that Google was ready to undercut its share in revenues. Apple charges 30 per cent 30 per cent of revenue from iTunes news subscription.

In addition, Google is reportedly ready to offer some personal information about the Android users to the newspaper and magazine publishers to assist them in marketing products.