Industry analysts believe Apple intends on targeting consumers living rooms and a share of the lucrative television advertising and subscription market.
Last year, 83 million households in the U.S. paid $74 billion to the eight most popular television subscription services; and advertisers spent $70 billion to advertise to those households.
By 2015, these revenues are expected to increase by twenty-percent.
Consumers watch an average of 5 hours of televison a day, with younger viewers (18 to 24 ) averaging about 3.5 hours a day. As a comparison, the average time spent surfing the Web every day is 49 minutes.
If Apple intends to compete for the lucrative television subscription fees and advertising revenues, they will need a revolutionary innovative product.
A new tv technology that would revolutionize the industry much like how the iPhone and iPad revolutionized mobile devices.
Last year, during a digital conference, Steve Jobs commented that innovative technology was being undermined in the television industry.
He shared his thoughts on what would be required to create new tv technology, "The only way this is going to change is if you start from scratch, tear up the box, redesign, and get it to the consumer in a way that they want to buy it."
It appears that is exactly what Apple is doing. The legacy of Steve Jobs.
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