Sep 2, 2010 11:52 GMT  ·  By

At the September 1 media event, Apple’s “one more thing” turned out to be “one more hobby”, as CEO Steve Jobs himself noted, as he proudly introduced the company’s redesigned Apple TV.

Although the ergonomic design is the first thing that strikes you when you look at Apple’s revamped set-top-box, the key features of this new device are actually the $99 price tag, and the ability to rent and watch commercial HD TV episodes for just 99 cents a piece.

Cupertino believes that its new Apple TV offers the simplest way to watch HD movies and TV shows, allowing users to choose from the largest online selection of HD movies to rent, including first run movies for just $4.99

A selection of HD TV show episodes to rent are available from ABC, ABC Family, Fox, Disney Channel and BBC America for just 99 cents, Apple confirmed.

Just as important for fans of services like Netflix, YouTube and Flickr, Apple TV is focused on streaming content from the web, so long as there’s an Internet connection around.

“Apple TV has built-in HDMI, Wi-Fi, Ethernet and an internal power supply for easy set-up, and features silent, cool, very low power operation in an enclosure that’s less than four inches square—80 percent smaller than the previous generation,” Apple brags.

“The new Apple TV, paired with the largest selection of online HD movie and TV show rentals, lets users watch Hollywood content on their HD TV whenever they want,” said Steve Jobs, Apple’s CEO.

“This tiny, silent box costing just $99 lets users watch thousands of HD movies and TV shows, and makes all of their music, photos and videos effortlessly available on their home entertainment system,” Jobs emphasized in a press release issued by Apple after the closing of its event.

The ability to stream music, videos and photos from any PC or Mac laying around should  make Apple TV an asset for every household, its makers believe.

The device ships with Apple’s new aluminum remote.

“Just connect Apple TV to your HD TV, join a Wi-Fi network and with a few clicks on the seven-button aluminum Apple Remote, you have access to amazing content,” Apple explains.

A free Remote application developed by Apple especially for the Apple TV can also be employed by customers who own an iPhone or iPod touch, for even more control over their set-top-box.

Available late this month for $99, Apple TV can be pre-ordered immediately from Apple’s online store.