Steve Jobs announced Wednesday at a news conference in San Francisco that Apple is coming out with a new, smaller and cheaper Apple TV.

The new Apple TV is only about a quarter the size of the old one, with curved edges and looks something like a hockey puck. It is going to be a streaming-only device that can be connected to an HD television and show rented TV shows and movies. It will be sold at $99.

When asked about the makeover of the Apple TV, Steve Jobs said, “We introduced it four years ago and we sold a lot, but it’s never been a huge hit. Nor has any competitive product. Nothing has been a hot in the living room.”

The product can also do Netflix streaming, show photos on Flickr, and play YouTube clips.

“What have we learned [from Apple TV] is the No. 1, 2 and 3 thing they want is Hollywood movies and TV shows whenever they want. They don’t want amateur hour. They want professional content and they want everything in HD,” he added.

The new Apple TV will be available in about a month and will be sold at $100.

Want to earn some spare money as a writer for us? Send us an email!