The news comes from a report by Chinese news site 21cbh.com, which was translated and summarized by Topeka Capital Markets analyst Brian White.
Foxconn is rumored to receive LCD TV panels from Japanese display maker Sharp for an Apple television ahead of the fourth quarter of 2012, as it was initially schedule.
White believes a 2012 holiday launch for Apple’s iTV is very likely, given the hurried production schedule.
“In our view, a holiday launch would make for a very merry holiday season for Apple and consumers,” White wrote.
“However, we will continue to monitor the data points surrounding the timing of this launch as they could change.”
White estimates that the Cupertino company could produce sales of $10 billion per year, with $1.50 to $2.00 in earnings per share.
“We believe the pieces are in place for a launch soon, driving an entirely new $100 billion market opportunity or higher (given a higher [average selling price] at Apple), while further strengthening the company’s digital grid and providing customers with a new TV experience,” White wrote.
Last month, Foxconn boss, Terry Gou, confirmed that Apple is making preparations for the iTV by saying that his factories are already making preparations for the anticipated television set.