It is no secret that Apple Inc. is trying to enter the TV market with its new iTV, which is expected to be announced soon. With previous reports on the new device’s development and Steve Jobs’ revelation in his autobiography, we’re going to see it soon. Now, a new report claims that the company is ditching the ‘iTV’ name and will rename it as the ‘iPanel’, a device that is said to be “far more than a TV” and is expected to be launched this year.
Jeffries analyst Peter Misek has increased his price target for Apple’s stock to $800 on Thursday on the prospect of a new TV set. Misek said that he has “enough confidence” that the company will launch the new product in the last quarter of this year.
Misek said that the iPanel will be a better product name than the iTV as it will give consumers the impression that it will do more things that a TV can handle.
“It is a display, gaming center, media hub, computer, home automator, etc.,” said Misek. “Also, Apple would likely have difficulty getting naming rights from the UK TV network ITV.”
Based on observations on the supply chains in Asia, he thinks that iPanel production will start in May or June, just in time for a fourth quarter release. He said that specialty components for an Apple-branded TV have started shipping to the suppliers of the company.
Do you like the iPanel name? Tell us what you think.