Apple's suppliers will start preparing materials for iTV sets during the first quarter of 2012.
Citing sources within the industry, Digitimes reported that Apple's supply chain partners are preparing to meet the iPad maker's deadline for launching the new product - during the second or third quarter of 2012.
The sources also revealed that instead of launching a connected set-top box like Apple TV, the company plans to launch a full TV set. An Apple TV sets was one of the last projects Steve Jobs was working on before he died of pancreatic cancer in October of this year.
Apple has reportedly commissioned Samsung to develop the chips for the new TVs while Sharp will develop the television screens.
Initially, the company plans to launch TVs with 32-inch and 37-inch screen sizes, moving on to bigger models at a later stage.
According to Digitimes sources, however, there is also a possibility that the company might launch new Apple TV set top box devices in 2012 as it has lowered the price of the existing one by almost 9 percent. This is very exciting for those looking to purchase a new television in the coming year with all the special features Apple plans to provide.