Microsoft has confirmed the existence of the Xbox One S, its souped-up new console which packs more power and less bulk.

Unfortunately for Microsoft the console leaked just hours ahead of its official reveal, but at least we can now put any lingering doubts to rest.

The S is 40% smaller than the standard Xbox One, with a new white case and porous new design – we’re nicknaming it “The Holey One” – that also drops the bulky power block. Hooray!

It will start at $299, and will be available this August.

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The real game changer, of course, is the fact you can stand the console upright. What a time to be alive.

But enough about cosmetics: the new console will come with 4K Blu-ray support and will be High Dynamic Range compatible too.

Plus, it comes with a meaty 2TB hard drive and a new wireless controller that features a textured grip.

However, gone is the Kinect sensor port – if you want to use Kinect you’ll need a USB adapter – and instead is a built-in IR blaster. “For fans that currently own a Kinect for Xbox One and plan to purchase the Xbox One S, we are offering a free Xbox Kinect Adapter,” says Microsoft.

How does it stand up against the PS4 Neo?

Of course, Sony has also confirmed that there’s an iterative PS4 update on the way – the long-rumored PS4 Neo (aka the PS4K). We don’t know what the console will be officially called, but Eurogamer reports it will also support 4K.

What’s slightly odd about the whole thing is that Phil Spencer recently said that Microsoft would only move forward with a new console if it did so in “big numbers”.

“I want it to be a really substantial change for people – an upgrade,” he toldGame Informer. The S is certainly an upgrade, but we wouldn’t call it a substantial one.

Also rumored – but not confirmed – is another, even more powerful console that, according to Kotaku, goes by the codename “Scorpio” which will allegedly arrive in late 2017.

This, to us, is the “substantial” upgrade, and reports claim it will run at six teraflops – which, if you believe the leaks so far, would peg it as more powerful than the PS4 Neo (which is said to max out a 4.14 teraflops).

Take all of that with a pinch of salt, but if you’re looking to upgrade your Xbox One, this might all mean that it’s worth holding off until next year.

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