SAN FRANCISCO, Sep. 1, 2010 (Xinhua News Agency) -- Apple Inc. (NASDAQ:AAPL) on Wednesday unveils a new version of its TV set-top box which is smaller and cheaper.
The new Apple TV is a quarter of the size of the previous version and can be easily held in people's hand, Apple CEO Steve Jobs said at a media event held in San Francisco.
The device supports video streaming from Netflix Inc. (NASDAQ:NFLX) , a company that offers movies and TV shows rental by mail and online.
Apple TV can also stream content from websites such as YouTube, as well as music, photos and videos from users' computers to their high definition (HD) TVs.
Users can rent first run movies for 4.99 U.S. dollars the same day they are released on DVD and rent HD TV episodes at the cost of only 99 cents.
The TV show rental service gives users up to 30 days to start watching and then 48 hours to finish or watch multiple times.
Apple confirmed that ABC, ABC Family, Fox, Disney Channel and BBC America have agreed to offer shows for streaming.
"We think the rest of the studios will see the light and get on board with us," Jobs said.
He also announced that the price of the Apple TV will come down from 229 dollars to 99 dollars.
Apple said the new product will be available later this month and can be pre-ordered beginning Wednesday on the company's online store.
