Rumor has it that Apple is launching its new Apple TV on Wednesday in San Francisco.

The new product is said to focus mainly on gaming, a new strategy by Apple to enter the multi-billion dollar industry with competitors like Sony, Nintendo and Microsoft.

Although the official announcement has not been made, according to Reuters, a source had shared an information stating that the product is expected to have a starting price tag around $150.

The new price is higher than the previous version but still lower compared to the currently available game console in the market. This is because the new TV will come with a higher specification such as higher processing power.

A source obtained by The Telegraph said that the Apple TV was expected to be sold with a game controller technology that could rival PlayStation 4, Nintendo Wii, and Xbox One. There will be new technology applied on the controller the same used for their patented Apple TV remote which is the inbuilt Touch ID sensors.

Other new addition includes a new version of Siri by Apple which will allow the user to control their Apple TV using only their Apple gadgets. Users can expect the new game console release to be something that they have never experienced according to The New York Times.

Besides new technology applied to the product, Apple TV is also planning to expand their streaming services. It is expected to offer users with a plan that could rival current cable TV operators. However, according to resources from The Telegraph, the plan will not be unveiled this week and users can only expect that sometime early next year.

This is not the first time Apple venturing into the gaming industry, the company had made the same entry in the 90's with their game console called 'Pippin'. The product was a collaboration between Apple and Bandai, a Japanese toy company.

However, the sale flops as they are unable to compete with the newly released Sony's PlayStation at that time. Shortly after that, the late Steve Jobs returned to the company and focus on the launching new breakthrough product in the computer and gadget arena.

Apple also has been a successful player in the games business when their iPhone product revolutionizes the mobile game industry creating a massive new multi-billion dollar mobile gaming industry at that time. Examples of the successful games are the Angry Bird and Clash of Clan.

As for now, no representative from Apple was available for confirmation regarding the upcoming Apple TV product.