According to The Korea Times, Korea's big telecom operator KT has teamed up with Sony and are poised to launch their IPTV HD Mega TV service in November for PS3 owners.

Over 5 million Koreans have already been enjoying KT's standard-definition Internet TV, since its launch last month, but the launch of the HD service could mean that the PS3 will replace the set top box, with users choosing to stream live video feeds via their consoles.

"Mega TV will include high-definition games and Blu-Ray media in its periphery," says Lee Young-hee of KT's Media Center. "We will seek more cooperation with SCEK to create synergy."

There's currently no news on how much the service will cost or when it will be released in the US and Europe.

It was widely expected that Microsoft would launch their own IPTV service for Xbox 360 by the end of the year, with the help of AT&T Uverse ,Verizon FIOS, BT Telecom and others. But, despite the IPTV service being demonstrated earlier in the year , a launch date has yet to be confirmed. However, it has been suggested that one of the features included in the Xbox 360 fall update could well be IPTV functionality.

Source :: Absolute Playstation