GOOGLE is planning to launch a new games console to rival the XBox and PlayStation.

The internet giant is plotting a bold move into the gamer market with a new machine codenamed "Yeti", accoring to Gizmodo.

3 Google may launch a new games console to rival the market leaders Credit: Credit: SiliconValleyStock / Alamy Stock Photo

It would be a massive gamechanger in that world - which at the moment is dominated between the Microsoft and Sony powerhouses.

But reports suggest Google is developing a futuristic game-streaming service, with possibility of a physical console following shortly after.

According to Gizmodo, "Yeti" will use faster Internet in 2018 to carry the service which would run similar to PlayStation Now.

Both Yeti and Now use a similar concept to Netflix, streaming titles on a one-off subscription basis, rather than selling hard copies.

PlayStation Now costs UK users £12.99 a month.

3 The PlayStation already offers a game streaming service which Google could rival Credit: Sony

3 The Xbox and PlayStation are market leaders - but could they about to meet fierce and powerful opposition with Google's rumoured Yeti Credit: Alamy

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Microsoft's Xbox One also has a streaming service - Xbox Game Pass - and is available for slightly less at £7.99. However, Microsoft requires you to download the games in full to your console instead of streaming.

The Verge also reports Google has hired former PlayStation and Xbox executive Phil Harrison to head up the venture.

He tweeted last month: "Excited to be able to share that today I've started a new role as Vice President and GM of Google - and relocation (back) to California."

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Insider believe Google will have an edge over competitors by allowing streaming via Chrome and ChromeCast.

In a report by The Information, it was claimed Google Yeti was due to launch in late 2017, but was pushed back for unknown reasons.

Google has previously entered the gaming arena with Nexus Q on the mobile phone - but launching a home entertainment system would be a huge leap forward.

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Earlier this month we revealed the best prices on Xboxes from major chains.

The console is also going to benefit from the original chunky controller - but with one upgraded feature.

We also revealed our pick of the best PS4 games 2018.