Apple TV Relaunching with iPhone OS and Cloud Storage

Apple [AAPL] is launching a new iteration of the Apple TV. The new version will integrate heavily with Apple’s mobile offerings such as iPhone OS that runs on the iPhone and iPad.

The new structure will be based on the iPhone 4 architecture and will run the A4 CPU and have 16GB of flash storage. The system will be capable of 1080p Full HD and design wise, will follow how other Apple products work in that a limited amount of cables will be used… one for power and one to hook it up to a TV.

Some who Engadget spoke to, described it as being an iPhone without a screen. What’s even more impressive is that rumours are saying it will cost $99 making it a very cheap system to own.

The new system will work on cloud based storage although for those who don’t trust the cloud fully, they will be able to backup to a device such as a time capsule. It will run iPhone OS and have the same familiar layout although it isn’t clear how apps will work, if they work at all, on the Apple TV.

It’s certainly interesting news in light of hearing just a week ago about Google [GOOG] moving down the same road.

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