Google TV is a Smart TV (or set-top box) which aims to seamlessly combine your Internet and TV experience. It runs Android OS, Chrome browser and Flash 10. Third party developers can create interesting applications and make them available to end users via an App marketplace.
Google TV aims to take TV viewing experience to the next level, similar to what smart phones (Android, iPhone) did for phones. The key here, in my opinion, is creating a framework and open up the TV-internet application space to third-party developers.
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