In a press briefing today (September 1) in San Francisco, Apple CEO Steve Jobs revealed the second generation Apple TV.

Consumers, said Jobs, “go to their widescreens for entertainment, not for another computer”. They don’t want to manage content or syncing, he added.

Jobs said what Apple research has shown people do want is high-definition, Hollywood-quality content when they want it, not “amateur-hour”.

They also want lower prices, which is why the new Apple TV will be priced at $119.

A quarter of the size of the original Apple TV—“It’s this little, tiny box,” said Jobs—the new device fits in the palm of a hand, and will be available in late September.

The power supply is built-in, and the new Apple TV is equipped with Wi-Fi (802.11n).

It will stream movies and television programs directly from Apple, on-line videos from YouTube, images from Flickr and MobileMe, and audio-visual content from your Mac or Windows computer.

Apple is dropping movie purchasing through Apple TV in favour of rentals only. First-run films will cost $5.99 and users will have access to the movie for 48 hours.

Rentals of HD television shows are only available in the U.S., but the price for those has dropped from $2.99 to $.99.

Jobs said the price change was a “big step for some of the studios to take, not all of them wanted to take the step with us”, so only ABC and Fox programs are currently available. Jobs said he hopes the other studios will soon follow suit.