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Feature set is the big question mark



From Fudzilla:
Sources tell us that Apple will launch a new advanced Apple TV device later this year. Apple is said to be close to nailing down the final hardware for the new Apple TV, but the exact feature set that the new Apple TV is to offer is still apparently in flux.

As for the possibility of an actual Apple branded HDTV with an Apple TV style interface built into it, that seems more of a long shot. With HDTV sales down and what really amounts to a lack of interest by consumers, it would seem that the space for Apple to offer a high-end HDTV offering just does not make sense at this point in time.
  New Apple TV likely this year