The new Android Market was announced about two weeks back. The update may take a number of days to finally move to all Android based phones. Now, "it appear Google's major update to its Market has started making to people who own Android-based smartphone and devices," Engadget reports.
As we have previously reported the biggest new additions to the Android Market in this update is the ability to directly download movies and ebooks. In terms of the movie store, the Android Market will work much in the same way as Apple's iTunes with movies from the major Hollywood studios available for rental for as low as $1.99. You can choose to stream the movie via your wireless connection or you can download the film directly to your phone's storage device if you want to watch the movie without the need for a wireless connection. The movie update is for North America only but other countries will apparently get a movie store in the coming months.
The new Android Market also allows for the direct download and purchase of ebooks without the need to go to a third party application such as Amazon.com' Kindle.
You can read more about the Android Market here.