Apple plans to release an updated Apple TV set-top box in 2021, according to Nikkei Asia Review. It doesn’t say when it will be released, but the Sellers Research Group (that’s me) thinks we’ll see it before spring.
It will almost certainly include an improved remote, a more power processor (at least a A12X chip), and improved storage options. The current 32GB and 64GB of storage simply aren’t enough with the blooming of 4K movies and TV shows, even though a lot of our streaming content is stored in iCloud. We need Apple TVs available in 128GB, 256GB, and 500GB options.
Also, expect the 2021 Apple TV set-top box to be tied in heavily with the Apple Arcade gaming service. That said, I expect Apple to release its own gaming controller/gamepad that will work with Apple TV, Macs, and iPads.