Apple has dropped the price of Apple TV 160GB by $100 down to $229.

The company also discontinued the 46GB version of Apple TV.

It is widely believed the move comes as Apple planes a major overhaul of Apple TV in the near future given all the recent upgrades Apple has made to many of its products, including OS X.

According to beta users testing the new QuickTime version, users will be able to easily convert and share videos on social sharing sites, including YouTube and the Apple MobileMe gallery. Users will be able to effortlessly automatically convert and upload videos directly to YouTube with their YouTube account. With the new updates, you will also be able to convert and export videos to work on other Apple products such as the iPhone, iPod and Apple TV.