Apple, in the music event today, unveiled the new Apple TV. New Apple TV supports HDMI, Wi-FI and has Ethernet port, aluminum remote and is one forth in size as compared to previous Apple TV.

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There is no storage as everything is to be rented. One can also stream content from computer and other iOS devices but can’t sync as there is no storage. Everything is in HD.

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Users will be able to rent first-run HD movies for $4.99 the day they come out on DVD. Also users can rent TV shows for 99 cents and can pay $2.99 to buy them via iTunes. Right now there are just ABC and Fox news while others don’t want to commit. Steve Jobs says they will see the light soon.

You can also get Netflix streaming on Apple TV. Also YouTube, Flickr and videos from mobileme.

[images via Gizmodo]