Spotify has plans to launch a line of hardware that will make the most of its hugely popular music streaming service, pitting it against Apple, Amazon and Google.

The Swedish company is "on its way" to creating its first ever physical product and is on the hunt for a manager to set up an operational division for manufacturing, supply chain, sales and marketing in Stockholm, according to a recent job advert spotted by music website Musically.

The company has several job openings for hardware production, suggesting a move into developing physical products is imminent.

Such a venture would place Spotify in direct competition with Amazon, Google and streaming competitor Apple, all of which are selling smart speakers.

Apple recently launched its much-anticipated HomePod speaker, which streams Apple Music. Although the Amazon Echo and Google Home are compatible with Spotify, both companies also have their own music service which could put the Swedish technology company at an advantage.

The venture is the latest example of a software giant moving into hardware, following in the footsteps of Amazon, Google and potentially Facebook, which is rumoured to be developing its own device.