One of the biggest names in the world of technology, Apple Inc. has now reportedly given a new spin to its highly anticipated Apple TV program, as according to numerous reports, the company will be renaming the entire project to ‘iTV’ before the official launch of the product. Furthermore, the all new iTV will come with various downloadable applications and Apple has even reduced the resolution of the video from 1080p high-definition video to 720p HD video.

The iTV is said to be powered by an Apple A4 processors, the same one that is currently installed on the all new iPhone 4G and the device will be running the Apple iOS. iTV will come with an internal 16GB of flash memory and will introduce new iTunes streaming services. One of the primary reasons for this drastic change in iTV’s video output is being attributed to the restricted ability of the A4 processor, that apparently isn’t able to handle     higher resolution content. The applications that will be available for the iTV are believed to be available on a separate Apple Apps Store and there is no indication as such whether the device will have access to apps designed and developed for the iPhone and iPad.

Via Venture Beat