Netflix
Netflix has lost nearly 80 percent of its market value since the company's shares touched a high of over $300 in July. Reuters

Netflix subscribers or hopefuls who want to watch movies and shows on certain smartphones are now in luck -- considering the streaming video service has updated its app to work on smartphones that run the Froyo and Gingerbread versions of the Android operating system.

Still, however, those with the Honeycomb system on smartphones remain out of luck with Netflix's latest app update. However, Netflix has just updated its Android app to support smartphones with Andriod 2.2 Froyo and 2.3 Gingerbread installed.

To stream Netflix, the digital movie service, to a Froyo or Gingerbread smartphone, users will need a subscription for unlimited videos for $7.99 per month.

The phone-based Android Market app now supports all Android 2.2 Froyo and 2.3 Gingerbread smartphones, whereby previously it did not. The updated version is 1.4.

The app is large, commanding 19.91 MB, but the app now supports phones previously left out.

The Netflix app for Android debuted in May. But due to hardware requirements, only the Samsung Nexus S and five other phones running Froyo could support the video streaming service's app.

Netflix said near the end of 2010 it was having to work with individual handset manufacturers to add content protection to their devices which led to a fragmented experience for some on Android -- some Android handsets had access Netflix, while others did not.

Later this summer, Netflix released verision 1.3 which expanded the list of devices the app worked with to 21, including the Motorola DROID, the Lenovo IdeaPad tablet and the Samsung Epic 4G. But now, the latest update from Netflix means all smartphones with Android 2.2 Froyo and 2.3 Gingerbread can start streaming once they secure a $7.99 subscription.