Apple unveiled a smaller, cheaper version of Apple TV, which connects to a high-definition television and can show rented movies and TV shows from Apple’s own service, plus content from Netflix, photos on Flickr, YouTube clips and a lot more, on Wednesday.

The  $99 gadget is Apple’s previous attempt of a television set-top box which went on sale in 2007. In that, the Apple TV had to sync with a computer, a concept most consumers weren’t ready for.  It also didn’t record live television shows the way TiVo and other digital recorders did, at a time when that was becoming a popular way to watch TV.

“We’ve sold a lot of them, but it’s never been a huge hit,” Jobs said of the existing Apple TV, which went for $229.

Jobs unveiled social media features for its iTunes software, a new lineup of iPods including a touch-screen Nano and new software for its iPhone, iPod Touch and iPad devices during a media event in San Francisco.

Although the new Apple TV box does not record television, it comes at a time when more people have gotten used to watching shows online.

The device lets people rent (not buy) content. Apple TV owners will pay $4.99 to rent first-run high-definition movies the day they come out on DVD. High-definition TV show rentals will be 99 cents. Episodes of TV shows will be available from News Corp.’s Fox, The Walt Disney Co.’s ABC, ABC Family and Disney Channel and BBC America.

Apple TV, which will be available within a month, will also display shows, movies, photos and music streamed over Wi-Fi from other devices. This includes computers with iTunes installed, as well as iPhones, iPads and the iPod Touch. For example, an iPad owner could start watching a movie on the tablet, then walk into the living room and, with a few taps, finish watching it on the TV screen.