It could either be a completely new hardware, or a software update.
USA based newspaper New York Times is reporting that Apple is currently planning on revising it’s yet-to-successful Apple TV once again.
The Times cites unnamed sources saying that Apple “is working on an update to its television software” and that it “will offer a complete redesigned interface for it”. According to the report, the new update could either mean a completely new hardware front, or a software update to existing Apple TV offering, and/or running on Apple’s iOS.
…people familiar with Apple’s television efforts offered some details. They said it was not clear whether the company would create an entirely new product as well as update the software. They also said Apple might base a new television design on its iOS operating system, which is on the iPhone, iPad and iPod Touch.
One person familiar with the company’s newly hired employees said Apple has recently hired several user interface and graphics designers who have a background in broadcast design for television.
Another person, who recently left Apple and was involved with the company’s television group, said some of the more advanced work on the next version of the TV is not taking place within the Apple TV group, but within another design group in the company—this could signal an entirely new product.
Source: The New York Times.