CLSA group told investors that the Cupertino-based company will not enter the smart television market until 2013, BusinessInsider reports.
The investment firm also claims that Apple's TV hardware will use LCD technology produced by Sharp electronics, citing Foxconn parent Hon Hai's decision to invest in the company as evidence for this.
"We continue to view Apple TV hardware as a 2013 event," said CLSA. "The timing of Hon Hai/Foxconn's equity stake and partnership with Sharp along with Hon Hai Chairman Terry Gou's separate 46.5% investment in Sharp's Sakai City plant lends further credibility that Apple TV is in the works.
"This also follows reports that Apple is investing ~$1.3bn in equipment destined for Sharp facilities."
The report contradicts claims from numerous analysts who predict that Apple will launch 32-inch and 37-inch television sets in the US this year, backed up by a rich library of on-demand content.
Apple is yet to officially confirm its plans to enter the smart television market.
> Apple's new TV set 'going into production this summer'