A fifth-generation Apple TV may be released as soon as this year, with vivid colors, and resolution that's twice that of regular high-definition television, sources told Bloomberg.
But the new device, which would support so-called 4K content, has reportedly posed challenges for Apple, which is combating costly components and complicated negotiations over content.
Apple, which is secretive about product plans, declined to comment to CNBC about the report.
The ultra hi-def streaming device may be developed as Apple loses market share to Amazon and Roku, Bloomberg reported Thursday. The report said Apple, like many media companies, has struggled to put together a bundle of live TV and channels that could appeal to viewers that already use over-the-top services like Hulu or Netflix.
Loup Ventures' Gene Munster was once a bullish Apple analyst, who for years predicted a revolutionary Apple TV set. Even Munster told Bloomberg that Apple needs to do TV right "or don't do it at all."
For more on the new Apple TV, see the article at Bloomberg.com.
Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.
Correction: An earlier version of this story misstated the level of resolution in 4K.
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