Apple has been rumored to release a new television set that will most likely have the Apple TV built in addition to some new additional features, with the possibility of Siri being added to the television in order to gett rid of the the television remote, which is what Steve Jobs felt was holding back the TV industry.

From MacRumors

AllThingsD reports on a new research note from Jeffries analyst Peter Misek suggesting that manufacturers are already “scrambling” to react to claims that Apple is preparing to enter the television set market. And rather than innovating on their own, competitors are reportedly focused on trying to identify what Apple will do to revolutionize the industry.“Based on our discussions, interestingly other TV manufacturers have begun a scrambling search to identify what iTV will be and do,” says Misek. “They hope to avoid the fate of other industries and manufacturers who were caught flat footed by Apple.”

Misek notes that Sharp appears to be retooling an LCD production line to suit Apple’s needs, with mass production on the line reportedly targeted for February 2012. Such a development could put a product release sometime in the middle of the year. Previous rumors had claimed that Apple could announce its television set by late 2012 and launch the product by early 2013.

Whatever Apple’s plans are, Misek suggests that competitors will almost certainly be six to twelve months behind with their own offerings, giving Apple a significant advantage in the marketplace if it truly does offer a revolutionary new product.

Whether or not the product is a hit will likely depend on the price point of the product. If the television has that Apple luxury tax, I am not convinced that the product will sell, no matter how “revolutionary” it is. Unlike a phone or tablet, a TV is a much more major purchase and isn’t as much of an impulse purchase.

Would you buy an Apple iTV?