Apparently not content with just being the biggest cell phone company in the world, Nokia is now reportedly working on a movie download service that would deliver fresh flicks directly to your multimedia phone. The Nokia Music Store has already launched in a few select markets and it hasn’t exactly been met with a huge level of success, but the Finnish phonemaker is hoping that video will be the key to our hearts (and our wallets).

The Nokia Movie Store (yet to be named) will allow you to stream movies directly from their server onto your Nokia mobile phone. You pay a flat monthly fee and then the videos can be sent you in a stream of QVGA H.264 goodness. The audio would come by way of AAC stereo 96kbps. While it is perfectly possible to watch these videos on your phone, you may also be able to enjoy them on a bigger screen with the TV-out feature.

Interestingly, if you find that you are really enjoying the movie and want to buy a copy of your own, you can click on the purchase button in the middle of playing and the movie “will then be dispatched overnight to your address on file from a Nokia-partnered DVD retailer.”