Following the Xbox One S leak from yesterday, Microsoft officially announced the new Xbox One S.

The Xbox One S is 40% smaller than the current Xbox One, features a 2TB hard drive, support for 4K Ultra HA video, High Dynamic Range, a vertical stand, and new controller.

It’s described as ‘Sleeker, Slimmer, sharper.’

The new Xbox One S features the power brick internally, similar to the PS4. The console will be available in August for $299 with preorders starting later today.

The console also introduces a brand new Xbox One controller.

Xbox One S comes in three different models: 500GB for $299, 1TB for $349, 2TB for $399. The 2TB model is apparently a limited edition for launch of the new console.

Preorder now at Amazon.