At $149 ($199 for 64GB of storage), the fourth-generation Apple TV is among the pricier options when it comes to set-top boxes. For example, Amazon's Fire TV costs $99.99, and Google's Chromecast Ultra costs $69. There's one big difference though: these two cheaper options support streaming in 4K, and the Apple TV does not. In fact, Apple's streaming solution is the last among major competitors that doesn't support the resolution.
But as the current Apple TV will be two years old next month, a new report from Bloomberg says that the company will finally release a model that's capable of streaming in both 4K and HDR, and will "highlight live television content such as news and sports". It's unclear what internals the device will have (such as the processor), but it will likely use a variant of HDMI 2.0, rather than the HDMI 1.4 port that's kept the fourth-generation model from receiving the feature.
If you're not familiar with 4K, then you probably won't have any need for the new Apple TV, since it probably won't have any other new features, other than a speedier processor. Obviously, you'll need a TV that supports 4K, which is four times the resolution of 1080p (double the vertical, and double the horizontal), and/or HDR.
The fifth-generation Apple TV is expected to arrive next month - possibly on September 12 - alongside three new models of the new iPhone and the Apple Watch Series 3, which is expected to have a cellular variant.