Apple Inc. (NASDAQ:AAPL) has announced a new version of the Apple TV product today and it has a low cost of $99. The new Apple TV has a small black matte enclosure and focuses on streaming.
The new Apple TV has ports for HDMI, Ethernet, USB plugs, and optical audio. 802.11n is supported. There is no local storage on the new Apple TV. Apple is relying entirely on the cloud for this device.
HD TV rentals from ABC and Fox sells for $0.99 too. HD movies cost $4.99 to rent. Netflix, YouTube, MobileMe, and Flickr is supported on the $99 Apple TV as well.
The device will start shipping four weeks from now. The video quality is 720p.