You may recall earlier that images of a slimmer version of the Xbox One were leaked ahead of Microsoft’s E3 briefing. Now, it’s official: Microsoft got its announcement in, and you’re looking at the new Xbox One S, which is indeed smaller — 40 percent smaller, technically — than the current model. The lesser footprint will allow you to safely use the system in an upright position with a stand that’s sold separately.

Even more impressive, the power supply has been integrated into the assembly, meaning you don’t have to worry about extra wires and a massive power brick taking up space near the TV. There’s also the upgraded hard drive: The Xbox One S comes with a new controller, which has textured grips and Bluetooth for connecting to your PC, and 2TB of storage space, twice the capacity of the original console.

Still, the most notable upgrade — apart from Microsoft swapping the black color scheme in favor of a white one — is 4K video playback and support for HDR (high dynamic range) content. That’s not to say you’ll be able to play games at ultra high-res, but if you own a 4K TV (congrats on being rich, by the way), owning an Xbox One S gives you one more option for displaying 4K content.

The new-and-improved Xbox One S arrives this August. Preorders are now live on Amazon. The 2TB launch edition will retail for $399 in the U.S., while the 1TB and 500GB versions will set you back $349 and $299, respectively.

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