After creating the world’s most popular digital music player, Apple may be looking towards a portable video player for those, who would like to see their favourite music videos when travelling. At least, such assumption could be made based on the fact that Apple wants to sell video clips via its iTunes network.

The Wall Street Journal reported that Apple has held discussions with the major recording companies about selling music videos through the iTunes music store. Such a move would necessitate the release of a new iPod that plays videos, notes MarketWatch web-site.

Some analysts believe that Apple’s iPod has about half a year of growth ahead of it before the MP3 market begins to show signs of maturity and sales will either drop or remain flat. In that case Apple would need a new driver to accelerate demand for its iPod player.

From technology standpoint an iPod player that would support video capabilities should sustain its usability, but gain larger screen as well as appropriate hardware inside along with more advanced battery and possibly larger hard disk drive. Initially only a full-size version is likely to become available. It is yet unclear how much such a device may cost. Currently an iPod with 60GB hard disk drive costs $399.

Apple’s Chief Financial Officer Peter Oppenheimer noted recently that the company commanded 90% of hard disk drive-based MP3 players and its iTunes Music Store share is about 70%. Furthermore, Apple Computer’s iPod Shuffle has expanded its share in the U.S. flash MP3 player market, to 58% percent in March, up from 43% in February, according to research firm NPD.

Apple Computer, who is traditionally tight-lipped over its future products, did not comment on the news-story.