There has been a lot of chatter lately about Apple releasing its own branded television. If it does happen, the projected revenue for Apple by one industry analyst is up to $6 billion a year.

[ad#Google Adsense 300×250 in story]Gene Munster, senior research analyst for Piper Jaffray, believes that if Apple were to release a television it could add $2.5 billion in revenue in 2012, $4 bilion in 2013 and $6 billion in 2014.

Munster believes that with the recent announcement of iCloud and recent television related patents, Apple is positioning itself for an announcement.

“At first the only media iCloud will store is music and pictures, but we believe Apple may add movies and TV shows purchased or rented in iTunes to the iCloud service, which could be viewed on a TV,” said Munster in a note to clients.

The biggest differentiator for Apple would be the App Store, according to Munster. With a strong line-up of developers, Apple has the foundation to make an Apple television a success.

“We believe Apple’s next step towards a television will be to open an App Store on the Apple TV; the company has already added apps like YouTube, Netflix and MLB to the platform,” said Munster. “We believe Apple may open the Apple TV up to 3rd party developers and launch an Apple TV App Store within the next year. The final step would be bringing the Apple TV software and the App Store to an Apple Television.”