Despite rumors, the product was not rebranded as “iTV.” Jobs did not state whether it was running a version of iOS, although the Apple TV’s new interface includes some very iOS-like touches, such as icons that jiggle when you are rearranging them on the home screen.

In an implicit acknowledgement of Apple TV’s poor sales to date, Jobs again referred to the product as the company’s “hobby.” He showed the new Apple TV at a press conference here on Wednesday.

But Jobs was careful to cast the company’s previous product as a learning experience, and indicated his intention of throwing more of the company’s weight behind the upgraded Apple TV.

Apple TV customers will be able to rent first-run HD movies for $5, at the same time as they’re released on DVD. That’s a substantial improvement from the past, when there were significant time lags before movies were available through iTunes.

Customers will also be able to rent HD TV shows from ABC and Fox for $1, a discount from the previous price of $3. The shows will run without commercial interruption.

Netflix customers will also be able to stream video from Netflix via Apple TV, and can also use the device to browse and view YouTube videos and content uploaded to Apple’s MobileMe service.

Customers can also stream content from ther computers, including photos, videos and music, with no syncing required.

The company will also be providing an iPad app that customers can use to control what appears on the screen via Apple TV, essentially turning the tablet into an oversized remote control.

Apple is already accepting preorders for the new Apple TV on its site.

For full coverage of Apple’s press conference, see Wired.com’s live blog of the event.

Authors: Dylan F. Tweney

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