Emerging reports are claiming that Google is preparing to foray into the social-networking market with the launch of a new service called “Google Circles”.

Tech site ReadWriteWeb claims that the Web search giant’s new social networking product will be announced at the next Google I/O which is scheduled for May this year.

Like the world’s most popular social-networking site, Facebook, Google Circles will let users to share links, pictures and videos. However, the service will share things with the user’s most appropriate circle.

Commenting on the most appropriate circle in the social networking, ReadWriteWeb's Marshall Kirkpatrick says, “We speak to our 'friends' all at once, no matter what we might want to say to one group of people or another. And thus we often feel less comfortable than we might say anything at all."

It is not the first time that rumours have emerged about Google’s plans to launch a social-networking service. Previous names used for the product include “Google Me”, “Google Loop” and 'Google +1'.

Google has turned down such reports. However it may be noted here that earlier in September last year, Google’s chief executive Eric Schmidt had indicated that a social layer would be introduced to all Google products.