Samsung Electronics will pull the plug on its video storefront for smart TVs and mobile devices on Aug. 1, marking its full exit from the digital-media business, although the company also said it has “exciting new video products” in the works.

The consumer-electronics giant stopped letting customers purchase or rent video from its Samsung Video and Media Hub on July 1, according to an announcement on the company’s website. The service competed with other electronic sell-through services like Apple’s iTunes and Amazon Instant Video.

In tandem with the shutdown, Samsung announced a partnership with M-Go, a joint venture of DreamWorks Animation and Technicolor, to let customers transfer content purchased (but not rented) through the service to M-Go. Customers who transfer their accounts to M-Go will receive a $5 credit and 50% off their next two movie rentals, for a total maximum value of up to $13.

The move to discontinue the movie and TV show service — which offered titles from major studios and networks including Disney, Paramount and NBCUniversal — comes after Samsung shut down its music service, effective July 1, and in May ended its e-book service, shifting customers to an app for Amazon’s Kindle.

Reps for Samsung did not respond to requests for comment.

In the notice on its website, Samsung said it is shutting down the Video and Music Hub “as we focus on some exciting new video products.”

“Samsung strives to deliver great content experiences on Galaxy mobile devices and Samsung Smart TVs and we’re constantly working to make those experiences unique and enriching for our consumers,” the company’s notice to customers said.

The Samsung video service allowed customers to access movies and TV shows on up to five devices, including Galaxy smartphones and tablets and Samsung Smart TVs. The company noted that users will be able to access other third-party video services, such as Netflix, Hulu and Walmart’s Vudu, on its devices.

Samsung’s shutdown of the video service and deal with M-Go was reported earlier by Re/code.