Amazon will its own network of over 3,000 satellites to provide internet access, as part of a new “Project Kuiper” initiative.

The project aimes at providing internet access to people globally and mainly to those who remain "unserved around the world," Amazon said in a statement on Thursday.

Project Kuiper will launch a constellation of low earth orbit satellites that will provide low-latency, high-speed broadband connectivity, the company added.

Amazon is the latest company with plans to use a network of thousands of satellites to offer broadband around the world. Unlike traditional satellite internet, these plans involve the use of satellites in low Earth orbit, which can be operated cheaply and with lower latencies. SpaceX has plans to launch as many as 12,000 satellites as part of its Starlink constellation, OneWeb wants to launch 650 satellites, and Facebook is also developing an internet satellite of its own.

Amazon Chief Executive Officer Jeff Bezos is expected to take advantage of its private space company Blue Origin for the new project.

Amazon said the satellites would provide data coverage for spots on Earth ranging in latitude from 56 degrees north to 56 degrees south. About 95 percent of the world’s population lives within that wide swath of the planet.

The United Nations estimates that almost 4 billion people around the globe are underserved when it comes to internet access.

Amazon has yet to announce whether it intends to build its own satellites or buy them from a third party. It also has yet to make a decision about how it will launch them into orbit.