Apple may soon support 1080p movies in its iTunes store. According to AppleInsider five studios have submitted movies to Apple in an "HD+" format, HD+ reportedly being 1920×1080 with a bitrate of 10Mbps.

Currently Apple only supports 720p (1280×720) video. iOS 5 was recently discovered to support synching and playing 1080p content onto the iPad 2, making it possible that the company is prepping the release of 1080p content along with the OS later this year.

A new Apple TV with the ability to output 1080p is also thought to be in the works. The current Apple TV can accept 1080p content, but outputs that video as 780p. A new Apple TV would in theory be outfitted with Apple's new A5 chip (the same processor used in the iPad 2) allowing it to be capable to playing the higher-resolution films. The A5 chip is also rumored to be included in the iPhone 5.

What do you think about 1080p coming to Apple devices and movies purchased from the iTunes store? Is 1080p something you've been waiting for from the company?

[via AppleInsider]