A source close to Apple details the next version of “Apple TV,” that the new architecture will be based directly on iPhone 4, meaning it’ll get same internals, down to that A4 CPU and a limited amount of flash storage — 16GB to be exact — though it’ll be capable of full 1080p HD. Device is said to be quite small with a scarce amount of ports (only power socket and video out), and has been described to some as “an iPhone without a screen.” Whilst there may be an option for greater storage via Time Capsule, big news on storage is that new ATV will utilise a cloud storage and streaming model, which’s bound to get everyone excited, as the Cloud is officially the answer to all problems. New ATV will do away with its current OS X-lite variation as a operating system, and will instead adopt iPhone OS for underlying experience. There’s no word on whether apps and the App Store will be coming along for the ride. According to sources, the price-point for the device will be $99, and may compete Google TV solution.