Rumor has it that Apple’s relationship with Samsung is on the outs, and they could be getting cozier with Sharp. The new power couple are rumored to be working on displays for future iPhones, iPads, and possibly the long rumored Apple television.

According to Peter Misek, analyst over at Jeffries, Sharp is in the midst of retooling their production line at its Sakai factory in order to manufacture a modified amorphous TFT LCD panel that will be used in the oft-rumored iTV. AllThingsD states that if all goes as planned, the iTV could be ready for production in early 2012 with a consumer release sometime during the middle of the year.

“Based on our discussions, interestingly other TV manufacturers have begun a scrambling search to identify what iTV will be and do … They hope to avoid the fate of other industries and manufacturers who were caught flat footed by Apple”, says Misek.

It’ll be interesting to see if Apple does release a television anytime soon. If they do, other manufactures will have to put in some extra hours to compete, as we’re sure that Apple will revolutionize the platform in some way. Misek even states: “Mainstream TV manufacturers are likely to be at least 6 to 12 months behind in a best-case scenario.”

Do you think Apple will release a television sometime next year? Tell us your thoughts below.