Apple is reportedly prepping a next-gen TV which will be "based directly" on the iPhone 4 and carry a $99 price tag.
According to Engadget, the new set top box was "in the works" long before Google announced its competing television platform.
"The new architecture of the device will be based directly on the iPhone 4, meaning it will get the same internals, down to that A4 CPU and a limited amount of flash storage - 16GB to be exact - though it will be capable of full 1080p HD," explained Engadget's Joshua Topolsky.
"[It] will do away with its current OS X-lite variation as a operating system...instead adopt[ing] the iPhone OS for the underlying experience.
The device is said to be quite small with a scarce amount of ports (only the power socket and video out) and has been described to some as an iPhone without a screen."
Topolsky also noted that Apple seemed to be "moving away" from a model of local storage to the Cloud.
"[But] for those still interested in keeping their content close, there will be an option to utilize a Time Capsule as an external storage component, [although] the main course will be all about streaming," he added.