The iPhone 8 and the third generation Apple Watch may not be the only device that Apple is going to unveil this coming September. According to a report from Bloomberg, Apple Tv is finally getting a huge update after nearly two years. The device is expected to feature 4K streaming standards. It will also highlight live television content such as news and sports.

TV's huge update

Over the past few months, the Apple firmware leaks suggested that the Apple TV might get a new set-top box. The Apple TV set-top box will feature a high-speed processor, which is capable of streaming higher-resolution 4K contents.

Back in 2015, the Apple TV received minor updates such as remote control, app store, and Siri support. The ability to stream 4K resolution content would be its biggest update after two years.

Despite the new capabilities and faster processor, Apple's engineers were not totally happy with the TV’s incremental upgrade. The company originally planned to build a cord-cutting device with the first Apple TV, but the company failed to arrange partnerships to make that innovation a reality.

One limitation of the current Apple TV is that third-party programs can only share back through streaming, but not in live content. This means that applications like Hulu or ones that integrate with cable-providers to offer live TV streaming are not allowed to showcase themselves in the official Apple TV application.

Company's new billion-dollar investment

Apple also announced that it has plans to invest in original video content worth $1 billion. But Apple is not going after giant companies like Netflix or Amazon Video. Spotify is going to suffer from the company’s billion dollar investment. Spotify has more than 50 million paid monthly subscribers worldwide, versus Apple Music’s 27 million.

To close that gap, Apple clearly needs to step-up its game.

If Apple is able to acquire seven to eight million subscribers to Apple Music, it would easily bring back its billion dollar investment in a span of three years. If the company succeeds with its plans, it would replace Spotify as the world’s leading music streaming service provider.

iPhone 8 rumored price and features

In other news, Apple is expected to unveil its flagship smartphone next month. According to MacRumors, the iPhone 8 will feature inductive wireless charging, new biometric features, camera improvements, and 3D recognition sensors. The device is expected to have a starting price of $1000. It might have a higher storage capacity model worth $1100 and maybe another at $1200.