New Apple TV: no storage, renting only

As the “one more thing,” or rather “one more hobby,” at today’s event, Steve Jobs unveiled the new Apple TV. The product is essentially what we’ve heard rumors of for the past few months.

The new Apple TV is small, about a quarter of the size of the original, which is possibly because it has no local storage, instead it relies on AirPlay and streaming from Apple as well as other services. The new Apple TV will only allow for renting movies or TV shows, unlike the previous model which allowed you to purchase content from the device. Now Apple will let you rent first-run movies (same day as DVD release) in HD for $4.99, with prices diminishing as the movies get older. Apple also has a deal with ABC and FOX to brings $.99 TV show rentals to the AppleTV, and it hopes to brings in other networks over time. Apple TV will also support AirPlay, so you can stream media across your home network from your computers or iOS 4.2 devices (that OS version is due out in November).

In addition to Apple-provided content, you can view media from Netflix, YouTube, Flickr, and MobileMe on the new Apple TV. It retails for just $99, compared to the previous $229, and is available for pre-order now. The device will start shipping in four weeks.

Read [Apple]