The chocolate-flavoured beverage, called Choglit, is to be made through a joint venture with Nestle.
It is also reported that Coca-Cola will be testing a chocolate- and vanilla-flavoured dairy drink through its Braintwist division, responsible for coming up with new products and variants on existing products in the US.
Beverage makers are looking at how they can target younger people with new products, as the market for their traditional cola drinks begins to decline.
Coke has already launched Vanilla Coke this year, while Pepsi is coming out with Pepsi Blue and both have launched variations on their main cola brands with a twist of lemon. Pepsi has also teamed up with Starbucks to market pre-packaged coffee drinks, including Frappuccino.
Coca-Cola has been criticised in the past for marketing its products at schools, as health groups linked sugary soft drinks to childhood obesity. It has now branched out into selling bottled water and fruit juice drinks.
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