When Google TV was announced the price wasn’t. It better be cheaper than $99. An Engadget source details the next version of Apple TV:

The new architecture of the device will be based directly on the iPhone 4, meaning it will get the same internals, down to that A4 CPU and a limited amount of flash storage — 16GB to be exact — though it will be capable of full 1080p HD (!). The device is said to be quite small with a scarce amount of ports (only the power socket and video out), and has been described to some as “an iPhone without a screen.” Are you ready for the real shocker? According to our sources, the price-point for the device will be $99. One more time — a hundred bucks.

Not only will this be priced to sell (like hotcakes), it seems that Apple is moving away from the model of local storage, and will be focusing the new ATV on cloud-based storage (not unlike Amazon’s streaming scheme, though we’re talking instant-on 1080p, a la Microsoft). For those still interested in keeping their content close, there will be an option to utilize a Time Capsule as an external storage component, but the main course will be all about streaming. The new ATV will do away with its current OS X-lite variation as a operating system, and will instead adopt the iPhone OS for the underlying experience.

Discussion via Techmeme.

RELATED: Along with the new iPhone that is expected to be unveiled at Apple’s annual Worldwide Developers Conference, reports suggest a cloud-based iTunes service and Mac Pro and MacBook Air upgrades will also be coming.

You can find me @jwindish, at my Public Notebook, or email me at joe-AT-joewindish-DOT-com.