Bangalore: Mekin Maheshwari, Flipkart’s head of digital media and payment officially announced that Flipkart's digital music store Flyte is shutting down. The decision, taken by the E-store, which primarily competes against Apple iTunes Store, has terribly failed to find enough takers and has incurred losses due to the increasing music piracy, reports TOI.

Maheshwari, said in a statement "We have realized the music downloads business in India will not reach scale unless several problem areas such as music piracy and easy micro-payments etc are solved in great depth. We feel that at present, it makes sense to take a step back from Flyte and revisit the digital music market opportunity at a later stage."

Earlier, Flipkart sent an email to its Flyte customers, informing about the closure on June 17, 2013, and requesting them to exhaust their Flyte wallet balance by June 17, or else the company will refund the balance amount to the user. 

However, Flipkart will continue selling its eBooks, "eBooks continue to be a part of our business. They have great strategic value for us," said a senior Flipkart executive.

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