Online music sales are a very big business and more companies are trying to grasp a portion of the business. Certainly the 700-pund gorilla of the online music world is iTunes, but there are other options.

Wal-Mart recently announced they it will expand its online music store with DRM-free MP3 songs at prices that undercut iTunes. The same week Wal-Mart announced DRM-free tracks, LimeWire made its intentions to open a music store to sell DRM-free tracks.

Today Nokia announced a new Internet services brand name called Ovi. Ovi means “door” in Finnish and Nokia intends Ovi to be its door into the online music game. Nokia is obviously no longer content to let service providers be alone selling music to users of Nokia handsets.

According to BBC News, Nokia is predicting that the market for mobile phones that will play music and games will grow by 50 percent to 120 million units this year alone. The Nokia Music Store is an integral part of Ovi and can be accessed via your PC or compatible Nokia handsets.

The store will offer full track streaming directly to your PC and customers will be able to purchase individual tracks or complete albums. Currently, there is no word on the launch of the service in the Unites States, but Europeans will have access to the Nokia Music Store starting this fall. In Europe, Nokia plans to sell tracks individually at EUR 1.00 and complete albums will go for EUR 10.00. A monthly subscription service that allows PC streaming will also run EUR 10.00.

Nokia didn’t specify which labels and artists they would be offering music from and only elaborated by saying that they will offer millions of tracks form major artists, independent labels, and a broad range of local artists from around the world. Another important point that was not specified was if the tracks sold would be DRM-free or not.