According to the Engadget Live report, Steve Jobs announced that Apple has a new iPod Hi-Fi.

"You want a wide frequency range... room filling power without distortion. We're gonna introduce one today that has some of the attributes of some of the speakers out there today. Today we're introducing the iPod Hi-Fi."

"Your stereo's really ready to move to an iPod based stereo if we can get the quality up. ... Three driver system... we have a dock right on top, you can plug in any iPod we've ever shipped wit a dock connector."

"It even has an auxiliary input in the back so you can plug your shuffle in. Let's look inside... we've integrated the electronics and the power supply in there, there's no power brick. You can power this off D size batteries, you can take it out to the cabana or the pool, great sound wherever you are." Read more at Engadget.