The Xbox One S will hit store shelves in two weeks, according to a new announcement by Microsoft.

Although the upgraded console will come in three different models — based on how much storage each contains — Microsoft only announced the release of one of those: the 2 TB version, which will arrive on Aug. 2 in the U.S., UK and Australia. It will sell for $399 and include the new Xbox wireless controller.

There's no release date yet for the other two models, but the pricing is as follows: the 500 GB Xbox One S will retail for $299 and the 1 TB console will go for $349.

"Play the greatest games lineup, including Xbox 360 classics, on a 40 percent smaller console with up to a 2 TB hard drive 4K Ultra HD video, High Dynamic Range, and a streamlined controller," the Xbox One site states. "Just don't let its size fool you, the Xbox One S is the most advanced Xbox ever."

Microsoft originally announced the Xbox One S at its 2016 E3 presentation. Here's what we know about the console so far:

Physical Size

The Xbox One S is 40 percent smaller than the Xbox One. That means it will take up less space than its predecessor, as well as stand up vertically. It also weighs less than the Xbox One.

Specs

The most important features of the Xbox One S, though, are its specs. The console now has up to a 2 TB hard drive, which means that players can download and store even more digital games. The new console also supports 4K video and HDR for games. The Xbox One S also has an IR blaster that allows users to interact with their televisions without needing a Kinect and has its own internal power supply.

Preorders

The Xbox One S is now available for preorders via the Microsoft Store, Amazon and Best Buy.

New Controller

The Xbox One S comes with a new and improved Xbox One controller. The new controller is white and has tapered edges, making it more comfortable in the hand than its predecessor. The new controller also supports Bluetooth technology.

"Experience the enhanced comfort of the new Xbox Wireless Controller, featuring a sleeker, more streamlined design," the Xbox site writes. "Get up to twice the wireless range. Stay on target with textured grip. And with Bluetooth technology, play your favorite games on Windows 10 PCs, tablets, and phones."

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