(Source: Apple)

As previously rumored, Apple announced an upgrade to its Apple TV offering, which can now play content in 4K HDR resolution, bringing it up to speed with competitors like Roku, Chromecast, and Amazon.

The new device includes a new A10X processor, a new version of tvOS, and Apple says CPU performance is more than twice as fast as the current version.

Preorders for the 4K Apple TV start Sept. 15, and it becomes available Sept. 22, starting at $179 for 32 GB of internal storage or $199 for 64 GB.

Research from Parks Associates found Roku was strengthening its lead in the streaming media player space, cornering 37 percent of the market, while Apple trailed behind Amazon’s Fire TV, and Google’s Chromecast, with only a 15 percent share. Apple TV’s price point is still well above that of competitors, which gives it a disadvantage. Though one promising development on the content front is more 4K movies becoming available in the iTunes store.

“We’ve been working with large Hollywood studios to get all of their 4K HDR content in iTunes,” Apple’s Eddy Cue says.

All 4K content will be available for the same price as HD, and users who previously purchased eligible films in HD will be automatically upgraded to 4K HDR for free.

Later this year Apple says it’s bringing more live sports and news to its TV app.