Media reports suggest that Apple TV will soon be getting a competitor from Amazon, the device is reportedly code named "Cinnamon." Will the new device be able to break the dominance of Apple?

Close on the heels of the new tablets launched by Amazon, the company seems set to take on Apple TV, in the set-top box arena. The company had recently launched the Kindle Fire HDX to take on the iPad.

According to MacRumours, a report from the Wall Street Journal claims that Amazon is putting finishing touches on a new set-top box. The company was rumoured to be working on the device from April 2013.

The new device from Amazon will offer streaming of Movies, TV Shows and Music, similar to the services provided by Apple TV. The services will be offered from Amazon's own sources instead of iTunes.

The company is also rumoured to be approaching cable companies to provide apps for its device and to provide content. Availability of content is seen as a major factor in users' buying decisions.

Apple is also rumoured to be working on a hardware upgrade for its Apple TV. There were reports that the company received three "set-top box" devices from its supplier in China. The device was expected to be unveiled along with the iPhone 5S launch, but there are still no indications about the actual launch of the device.

The Amazon device will also provide games that can be played using the device. Apple TV on the other hand allows for iOS games to be played on it. Tech enthusiasts are eager to see a faceoff between the two devices.

The Amazon device is expected to be released just before the holiday season begins, by the end of 2013. The Apple TV hardware upgrade is expected by the end of October. The company recently released a software upgrade 6.0 for the device.

The new software upgrade supports iTunes radio and the AirPlay feature, which allows users to stream content directly from the iCloud to any Apple TV, the authentication for which can be provided wirelessly using an iPhone or an iPad.

Apple will be launching the new iPhone 6 by early 2014, for those who are thinking whether to wait for the new smartphone or not- click here to read five reasons why readers should wait, rather than get the 5S.

Will the upcoming Amazon set-top box be able to make effective inroads in the Apple TV market share? Please give your comments below.