NetFlix, LG Electronics developing HDTV Box

LOS ANGELES LG Electronics and Netflix are teaming up to develop a set-top box that will stream movies in high definition from the Web to TVs. A prototype is likely to be unveiled at the Consumer Electronics Show (CES) in Las Vegas next week with a release projected for late 2008.

Though prices and specifics were not made available, Web-based movie streaming is likely to be priced under a subscription model similar to one Netflix has for its online DVD rental business, with a set number of movies available each month for rates ranging from $4.99 to $16.99. 

“Internet to TV is a huge opportunity,” said Netflix ceo Reed Hastings in a prepared statement. “We believe streaming is the way to go.”