Apple to enter television business later this year: report

Consumer electronics company Apple Inc plans to enter into the television business this fall, a Daily Tech report said.

The company plans to blow Netflix and all those other guys away by bundling Apple TV + iTunes inside physical television sets, the report said citing an unnamed Apple source.

The report also said Apple is teaming up with a major supplier to provide the physical televisions, which will be rebranded as Apple television sets.

When questioned why an OEM would cut into its sales by providing Apple with units, the source said, If you have to be competing with somebody, you want to be competing with yourself.

Apple currently sells a $99 Apple TV, iOS-powered set-top-box. Essentially, this Apple TV display is said to be a large screen with a built-in Apple TV.

Rumors of an Apple Smart TV have existed for years, with Piper Jaffray analyst Gene Munster repeatedly forecasting the product. Munster has suggested that an Internet-connected TV from Apple may have a starting price in the range of $2,000.