It appears that Apple are starting to look at Apple TV as more than “just a hobby” and are giving it a a complete overhaul.Changing the size, shape, os, ram and most importantly price.

A report from Engadget says that a relaunched version of  Apple TV will be a completely different beast to the current version. Running on iPhone OS 4.0 and streaming all your movies from the cloud hosting. This would mean a small amount of ram and a big reduction in price to just $99.

The new device will also be much smaller, the size of an iphone and will be able to run high definition (HD) video at 1080p. But have Apple left it all too late? The level of competition is huge, with all the big boys getting into online tv. Not least will be the Google TV service launching around the world soon. Netflix have installed their service into numerous devices and Apple have an ongoing feud with Adobe’s Flash player.

But then most things Apple do turn to gold, and having the millions of itunes members to sell to might help as well.

Incoming TV searches:

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