If a recent report is to be believed, Apple Inc. is currently working on a new edition of its popular Apple TV, which the Cupertino-based tech titan plans to unveil in June. The modernized set-top box will boast is own app store, in addition to superior hardware and the company's Siri digital assistant.

IB Times reports that Apple slashed the price of the company's third-generation Apple TV from $99 to $69 recently. The tech giant had updated this model in 2013, and now the company is updating it with a view to be able to contend better with Amazon's Fire TV, which comes with a voice-control feature, and Google's Android TV platform.

Meanwhile, Microsoft is said to be already working to bring certain Windows 10 apps to its Xbox One console. According to Buzzfeed, Apple is supposed to provide its app developers with a software development kit to enable them to develop new software especially for the streaming media player.

Citing sources "familiar with the company's plans," the report further claims that Apple is preparing a major hardware overhaul for the new Apple TV. The latest hardware is reported to incorporate the system-on-a-chip that powers the iPhone 6 and 6 Plus of the company. According to the report, Apple also has plans to increase the built-in memory of the device significantly.

Incorporating Siri into the set-top box will enable users to interact with the Apple TV in a manner similar to the Xbox One versions, turning on other devices by using voice commands - for instance, their TV or surround sound system.

In addition, Buzzfeed mentions about an update on Apple's website, which advertises the set-top box as "starting at $69."

In 2014, Apple announced that the Apple TV would be central to its computerized "smart home" platform, HomeKit. With the incorporation of Siri into the new Apple TV, it could potentially allow consumers to make voice commands to even switch off lights, alter the temperature of a room plus other functions, provided they own compatible hardware.

Meanwhile, Apple will launch a TV subscription bundle some time later this year, and will become the exclusive launch partner for HBO's latest streaming service, HBO Now.