Today, Apple announced a completely revised and rethought Apple TV. The new device has evolved into essentially a streaming hub, pulling content directly from the iTunes Store, networked computers, YouTube, Flickr, and (in a surprise) Netflix.

Measuring just 3.9″ x 3.9″ x 0.9″, the tiny device has HDMI and 100/1000 Ethernet ports, plus is wi-fi capable. The Apple Remote is also included.

Once connected, Apple TV will allow users to rent HD movies and television shows directly from the iTunes Store. Purchase-to-own iTunes content – movies/TV/music/podcasts – can be streamed from a networked Mac or Windows computer. Photos stored on computers can also be streamed to the Apple TV in a variety of slideshow presentation formats.

In addition, subscribers to the Netflix streaming service will also be able to access their accounts, check queues, and stream movies and television shows via Apple TV.

The new Apple TV is expected to begin shipping by the end of September at the cost of $99.00.