India, March 21 -- Once a countercultural icon beloved of hippies and PC haters, the company founded by Steve Jobs

At a keenly awaited press event on March 25, Apple is expected to raise the curtain on a new TV offering that could change the business forever. Exactly what is planned remains a well-guarded secret, as with all Apple announcements, but the informed speculation is that Apple will not be unveiling a new device. Commentators are instead anticipating a video service that will challenge the likes of Amazon and Netflix in living rooms worldwide.

That much was perhaps confirmed by Reed Hastings, the CEO of Netflix, when he said earlier this week that his company was not a part of Apple's plans. Those remarks also support a view tha...