Apple (Nasdaq: AAPL) could be looking to fend off recent competition posed by Google (Nasdaq: GOOG) in a race to grab more U.S. living room market share.

According to the WSJ, citing MacRumors, Apple is cutting the price on its TV set-top box (STB) from $99 down to $75, while the refurbished model would see a $10 price drop.

Last week, Google debuted its Chromecast TV stick, which will retail for $35 and work via plugging-in to a USB port on most HDTVs. The stick will allow users to stream content from mobile devices and laptops right to their TV and the stick will also come preloaded with popular apps from Hulu, Amazon, Netflix, and others.

Apple's TV STB, when connected via AirPlay, generally allows users to do more and doesn't rely on a separate device for control. However, price-conscious consumers are more likely to opt for the lower-cost device in most situations.

Shares of Apple are up 0.4 percent on the session.