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(Pocket-lint) - It's iPad 3 day (or iPad HD day, if you prefer) and understandably fanboys across the world are overflowing with tablet frenzy but, if the rumour mill rings true, there is going to be another Apple product introduction over in California later on - the brand spanking new Apple TV.

No, we're not talking about the much-hyped Apple iTV television that has been doing the rumour-rounds ever since Walter Isaacson’s authorised biography of Steve Jobs hit the shelves at the end of last year teasing such a device, but the third-generation hobby box from the Cupertino company.

And word has it that it will still be a sub-$100 device (or sub £100 here in Blighty using Apple's awful currency conversion rate) as per the Apple TV 2 box currently on sale. Or rather, not on sale. Reports suggest that the box that was announced in September 2010 is sold-out in 98 per cent of US Apple Stores - further fuelling the expectation that a new one will land.

If (when) it does, expect it to be packing the same CPU as the third iPad model that will be announced at the same event - most likely the touted A5X - as well as 1080p video support for apps such as Netflix and AirPlay Mirroring.

Reports suggest the model number is MD199LL/A – J33 BEST -USA and that it could also come packing a Bluetooth 4.0 Broadcom chip.

All will be revealed in a few hours. All eyes are firnly on on San Francisco.

Writing by Paul Lamkin. Originally published on 16 April 2013.