Microsoft revealed the slimline Xbox One S console, which will launch in August for the competitive price of $299/€299/£249.

The base Xbox One S will include a 500GB hard drive, native 4K video support and a new controller. The console features a 40% reduction in physical size and will also have a built-in power supply, unlike the original console. It will also be capable of standing on its side, unlike the original console.

A 1TB version will also be available for $/£/€50 more and a 2TB version will be available for a further $/£/€50. However, given that the Xbox One supports external hard drives, this pricing seems like bad value, so, the 500GB version is likely to be the main model which remains on the shelves.

The new controller will have a textured grip on the back, improved range and will support both Bluetooth and Wireless communication with the console. The Xbox One Design Lab (see video below) will also let you customise and create your own controller.