Online retail giant Amazon has become the most recent company to announce its own specific download store for Android devices, similar to the Google Android Market.

The new Amazon store – known as The Amazon Appstore – is strikingly similar to the iPhone App Store. In comparison to the free-to-access Google Market version, the Amazon Appstore will feature apps and games that have received due approval from Amazon individually.

The price of the apps for the Amazon Appstore will also be determined by the online retailer itself, so that it can make modifications from time to time. In addition, the company also intends offering discounts during sale events; and, on certain occasions, offering the apps for free.

In the beginning, the Amazon Appstore – which has been scheduled for release this year, though the timeline remains undisclosed - will offer free of charge downloads to users. Presently, the store has a developer portal available for access.

Despite the fact that initially the access to the Amazon Appstore is free; a yearly charge of $99 will eventually be brought into place by the company.