The computer / consumer electronics company is discussing an arrangement similar to the “Comes With Music” deal Nokia struck with Universal late last year, where consumers purchasing certain Nokia devices can download all the music they want for one year, according to the Financial Times.

Such a deal between Apple and the majors could result in giving iPod / iPhone owners an opportunity to download everything they want from the iTunes Music Store in exchange for paying a premium, or additional price, for the popular devices.

Those familiar with the alleged negotiations say none of the parties involved has been able to agree on a price for such a service.

But price disagreements seem to be par for the course whenever Apple and the labels are in the same room together. The labels haven’t been too happy with Apple’s standard 99 cents-per-track pricing, with many wanting a pricing model based on demand, where different songs and CDs carry different price tags based on popularity.

Evidently there’s a big difference between what Apple wants to pay and what Nokia paid for a similar deal. The Financial Times article states that Nokia is offering about $80 per device to the labels, while Apple is currently offering only $20 per.

The same Financial Times article also quotes unidentified music executives saying market research shows a big demand among consumers for some kind of unlimited music deal, including an arrangement where consumers pay $100 for a lifetime of tunes or a monthly subscription model priced at around $7 or $8 per month.

Not included in the Financial Times report is whether such a deal would include digital rights management protection for the tracks. Although DRM-free music is the latest carrot tossed to consumers in hopes of increasing online music sales, even the Universal / Nokia “Comes With Music” offering incorporates DRM technology to limit the free music availability to the first year after purchasing a Nokia device.

Nor does the Financial Times piece mention if an unlimited music deal would be offered to existing iPod and iPhone owners. However, it’s easy to imagine Apple offering current customers a chance to grab all those tunes in exchange for one easy payment.

Apple’s alleged talks with the labels are just that – alleged talks. Neither record companies nor Apple have commented on the Financial Times report. But last year’s launch of Amazon MP3, where all tracks are DRM-free MP3s and play on all players, including iPods and iPhones, is giving iTunes the first real competition the online music store has faced since its 2003 debut. So there’s an incentive for Apple to talk with the labels about doing some kind of unlimited music deal for iPod and iPhone purchasers.

But aside from arriving at a price for all that music, the labels will have to decide if they can live in a world where Apple is even more dominant than it is today when it comes to online music and personal players. And that may be the toughest decision of all.