Google is putting into motion plans to launch a music store by the end of 2010.

The search giant’s hopes of making inroads into the music business have been buoyed by the success of the Android phone OS.

Music executives are reportedly excited at the prospect of a rival to Apple, as they are concerned over the latter’s growing influence on selling their product (over 70% of all digital downloads are now through iTunes).

The music labels see Google as a company with the wide-range of consumer products and services – from search, mobile, video – not to mention funding – that can actually compete with Apple. They feel a powerful digital music retailer can expand their sales.

With Android-based phones selling at 200,000 a day, analysts especially see growth opportunities in the mobile market.

Google doe not have any music labels on board with their retail plans, but expect negotiations and announcements in the coming months.