Netflix Shares Rally After Announcing Global Expansion

Netflix Inc (NASDAQ:NFLX) said it would launch its movie and TV streaming service in South Korea, Singapore, Hong Kong and Taiwan early next year.

The move is part of the U.S.-based streaming pioneer's global expansion plans. By the end of 2016, Netflix plans to reach 200 countries, including China, where it said it was "continuing to explore options."

The streaming service will be available at launch on smart TVs, tablets, smartphones, computers and a range of Internet-capable game consoles and set-top boxes, Netflix said.

Earlier this month, Netflix started its service in Japan, the first Asian country to welcome the maker of "House of Cards" and "Orange is the New Black".

Details on pricing, programs and supported devices will be known at a later date, the company added.

(Reporting By Aurindom Mukherjee in Bengaluru; Editing by Anupama Dwivedi)