Apple is launching a new version of iTunes, according to many sources, at the end of the present year. The idea is to launch it along with the iPhone 5 and the Apple TV. However, this is not just one of Apple's normal updates for iTunes. In fact, it is said to be the largest overhaul ever made to this software. Some say this is one of Apple's moves to stave off threat from rivals like Google and Amazon.

Bloomberg reported, citing unnamed source, that by the end of 2012, Apple will be introducing the "largest change to the world's biggest music store since its 2003 debut."  So, there is definitely something big coming. One of iTunes' most important changes could be the adoption of the iCloud storage system into the actual software, giving users much more access to their files from any of their Apple gadgets.

There are more than 28 million songs, 45,000 flicks and more than half a million apps in the iTunes store. Not surprisingly, it considered as the world leader when it comes to content and media. Now, how much further could this change take Apple and its users? It will be exciting to find it out! Most of all iTunes' users are very comfortable with the current version of iTunes, and some of them can't even think of a way to improve it. However, if "largest change" is coming for iTunes, take it from us - it must be something really mind-blowing.

Bloomberg's source asked not to be identified, as the plans are not meant to be made public. The main reason is probably that Google and Amazon might find out about how hard Apple is working to make sure iTunes maintains its lead over its rivals. Therefore, it is almost for sure that there will be many more features and improvements in the new software which will be tightly kept under wraps.

iCloud integration, browsing and sharing improvements and user interface enhancement are some of the changes expected and it is most likely that there will be some more news soon on this.