Apple CEO Steve Jobs has added the television and movie business to his list of industries to upend, but it’s not yet clear whether Apple TV will be the product to do it. Last week, Jobs unveiled a new version of the Apple TV device that is smaller, cheaper and allows users the ability to rent and stream some shows from iTunes and Netflix to their TVs. It’s Apple’s third attempt at cracking the iron grip that cable and broadcasters have on the living room, although Jobs has referred to slow-selling earlier Apple TV models as a mere “hobby” for the iPod and iPhone maker. That’s no longer the case now that rivals are entering the fray. Online retailer Amazon also said last week that it would cut its prices for streamed TV shows to 99 cents. Google, meanwhile, has a TV service scheduled to roll out this fall. It’s still early days, but consumers would be wise to stay tuned.