The new Apple TV will have a slimmer chassis, a "drastically improved" remote with touch-pad input, increased on-board storage and an operating system that will support Siri, BuzzFeed said, citing sources familiar with the matter.
The device will be launched with its own App Store and a software development kit for app developers, the website said.
Apple did not immediately respond to phone calls seeking comment.
The Apple TV has not been refreshed since 2013.
The iPhone maker was expected to unveil a new version in June at its annual Word Wide Developers Conference, but it launched the Apple Music streaming service.
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