In a move boost its market presence and command a sizable market share in the home-entertainment business, Apple Inc. (NASDAQ:AAPL) is working on a new Apple TV that may be unveiled to the market in the near future. According to reports, Apple is currently developing a fifth generation Apple TV named “J105” according to reports from Bloomberg that quoted people close to the matter.
According to the report, the new TV set will deliver more accurate color than previous versions in addition to supporting Ultra HD video streaming. The TV will be available to the market within this year, if all goes as planned.
According to Bloomberg‘s sources however, this was not the initial plan. It says the plan to developed years ago in what Apple called a move to “revolutionize” TV. The tech giant, one of the top Nasdaq Stocks, is planning to replace cable boxes with new generation set-top box. The company also hopes to make deals with major content companies to enable it share streamed content over the Apple TV.
Apple remained economical on information surrounding the new development but instead gave scanty half-baked updates. Before the release of the fourth-generation TV in 2015, Apple TV was a streaming box and could play content from video services like Hulu and Netflix, Inc. (NASDAQ:NFLX).
Apple is yet to offer a detailed update on its strategy for the Apple TV and is target avenues for entertainment. Unverified reports about the company’s strategy in the industry have been running wild. One of the unconfirmed reports says Eddy Cue, the company’s Apple senior vice president of Internet software and services had proposed to media houses the idea to have an a live television developed by Apple. These negotiations apparently broke down before maturity.
Since then, rumors have been rife about Apple’s move to acquire original content from one of the major companies so as to boost its entertainment packages. Apple has upped its competitive edge with fellow tech companies listed on Nasdaq Stocks. Last year, the company beat Samsung to become the number one smartphone manufacturer according to a report compiled by Gartner. This is majorly attributed to the recalling of the Galaxy Note 7 due to software malfunctioning.