Apple announced the new third-generation Apple TV at its event today in San Francisco. The new product will support 1080p playback and a new, more visually appealing interface.

The new interface looks to be much more visual and icon based instead of the often drab pull down lists and menus of the current Apple TV.

According to Apple, the new generation of devices are anchored by a single-core A5 chip. The new Apple TV is also powered by iOS5, which is an upgrade from iOS 4.2.2 of the current edition. Currently unknown is whether the memory has been increased.

Other new nuggets of information include that Photo Stream also will show up automatically in the new Apple TV in 1080p. Also supported will be the Genius function, allowing Apple to recommend television and movies just like is currently done for apps and music.

The screensaver of the new Apple TV will also be photos from National Geographic, which in 1080p, should be amazing to stare at.

Apple’s Eddy Cue, during a demo, also said it will be easier to get to third-party content with the refreshed Apple TV.

The product will also support iTunes in the Cloud with 1080p movies that was announced at the event. Television shows will also be able to be streamed in full HD.

Also confirmed is that Netflix streaming, which is also a large draw on the Apple TV, will also be in 1080p.

Despite all the improvements, the price will remain $99. The box goes on sale next week, and you can pre-order it now from Apple’s site.

With the new changes, will you be buying the new Apple TV?