San Francisco, May 14 (IANS): Apple is likely planning to launch a new Apple TV that will be affordable in comparison to its rivals.

The new Apple TV is expected to be launched later this year.

According to famed analyst Ming Chi Kuo, Apple's aggressive strategy of integrating hardware, content and service amid the recession will help close the gap with its competitors.

Currently, the company sells three Apple TV models.

Its 4K Apple TV comes in 32GB and 64GB capacities and retails for $179 and $199, respectively, according to a report in The Verge.

Apart from Nvidia's Shield lineup, no set-top box has the same support for a wide range of home theatre standards and formats like the Apple TV 4K.

It's the gold standard for professional home theatre installers and is popular for its Extended Display Identification Data (EDID) capabilities.

EDID alerts your set-top box, or Blu-Ray player, or other device, what kind of display users plugged it into.

While the more budget-friendly Apple TV HD shares the same EDID handling, it lacks all the other features that make Apple 4K a must-buy for home theater lovers, the report said.