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.
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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.