Amazon (S AMZN) is set to announce its Roku and Apple (S AAPL) TV competitor at a press event in New York Wednesday. The company has successfully kept a lid on the project, leaving everyone guessing about key details like the actual shape of the physical device — but there have nonetheless been enough hints to give us an idea what Amazon’s new hardware product will do, and how the company might use it to fight for a place in our living rooms.

Amazon sent out a press invite last week, promising to give journalists “an update to our video business.” The invite image featured a couch and a bowl of popcorn, making it all but clear that this was about the TV, and not Amazon’s mobile video apps. All that was really missing was a remote control.

What we know: Android and third-party apps

Here’s what we know…