The Xbox One S leaked, but we got our first official look at the new model today during Microsoft’s Electronic Entertainment Expo event in Los Angeles.

The Xbox One S is 40 percent smaller than the original console, which launched in 2013. It will have a 2TB hard drive and support 4K video. It will also have a new controller with grips and increased range. The Xbox One S also has an internal power drive. It will cost $300.

Microsoft created a slimmer version of the Xbox 360, so this isn’t an unprecedented move for the company. Heck, it’s not unusual for any console maker. Even the Nintendo Entertainment System received a smaller model. Same goes for classic consoles like the Sega Genesis and PlayStation 2.

The Xbox One, though, especially needed a slimmer version, Many criticized the original console for it size, which was noticeably larger than the competing PlayStation 4.

Sony, meanwhile, is working on a new PlayStation 4 that has improved hardware, codenamed Neo. Sony has confirmed the Neo’s existence, but it claimed that it wouldn’t show the new system off during E3.