My friend uses the SmartIPTV app on a fairly old but good flat screen TV but it won't play MKV or MP4 videos from the VOB library so obviously doesn't have the appropriate codecs built into the firmware. It's a wi-fi TV as he has no terrestrial or satellite connection so I've suggested an addon streaming box as the most economical solution rather then buy a new TV. I've always used Vu+ boxes for satellite and IPTV but have no experience with IPTV only systems like MAG or Android boxes.

Can someone please advise me a reasonably economical solution for viewing and possibly recording IPTV. He'll only need the basic features as he's not tech savy so a top end solution would be a waste of money for him.