Apple will reportedly launch its own music service, possibly dubbed "iRadio," later this summer sources speaking to The Verge said Friday. Apple has struggled to get music labels on board with its alleged plans to launch either a subscription music service or a radio service similar to Pandora, but apparently it has made headwinds with Warner and Universal, two companies who had previously been wary of such a service from Apple.

"iRadio is coming," one source told The Verge. "There's no doubt about it anymore." Depending on the rates Apple earns, potential competitors such as Pandora could take a huge hit. We imagine that the product will be announced when the iPhone 5S is unveiled in June, although it's possible that Apple will hold a separate event for it.