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Amazon video-streaming TV set-top box in development?

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Amazon is said to be developing its own TV set-top box that will stream video over the internet.

Sources close to the web giant claim that the new product will be available later this year, according to Bloomberg.

The product would enable Amazon to increase the presence of its own video services, particularly as the company recently launched 14 pilot TV shows.

Video streaming services by Amazon are already widely accessible in the living room via existing set-top boxes like Roku and a Smart TV app.

The move would put Amazon in closer competition with other streaming set-top boxes in the market, including Apple TV.

Amazon's Lab126 division, based in California, is thought to be developing the hardware but the company is yet to give any official comment.

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