As had been heavily rumored and then leaked yesterday, Microsoft confirmed that it’ll be releasing a hardware revision for the Xbox One.

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Update: Microsoft announced that the Xbox One S will be available starting August 2nd.

Officially announced today at Microsoft’s E3 2016 press conference, the Xbox One S will cost $300 and hits stores this August. The new model will be 40percent smaller than the current XB1, support 4K video as well as HDR output, and have a 2 TB hard drive. It also features an integrated power supply.

If you were waiting to get an Microsoft gaming console, this revision—along with the company’s new Play Anywhere initiative which will let user buy Xbox games and play them on Windows 10 machines—might be what gets you to open your wallet.