Apple: New AppleTV

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Yesterday at Apple's special event, among the Jobs-bombs dropped was the newly redesigned Apple TV. At just $99, the new device is 80% smaller than its predecessor. It features no built in storage but streams all content in 720p, powered by an A4 chip. HD TV shows from ABC and Fox will cost $.99 while movie rentals will start at $2.99 to $4.99 for first run features in HD. Directly competing with the likes of Xbox Live, it's now capable of streaming Netflix, videos from YouTube, Flickr images and various other content from your computer. The new device is also energy efficient, featuring a built in power supply and requiring no more energy than your everyday nightlight.

Read more about the device on the Apple site. Check out news on Apple's other releases, like the touchscreen Nano and redesigned iPods on Engadget's live feed.