Microsoft’s reimagined Xbox One, the slimmed-down Xbox One S, will make its debut on August 2. 

Unveiled earlier this year at E3, the Xbox One S is 40 percent smaller than its older sibling, and features a built-in power supply, three easy-to-access USB ports -- which have been shifted to the front -- and an IR blaster for greater accessibility. 

The new hardware is being talked up as the first console to support 4K Ultra HD Blu-ray movies and video streaming. 

The addition of high-dynamic range (HDR) support is also being pitched by Microsoft as a minor revelation, with the console maker explaining that compatible games such as Gears of War 4 and Forza Horizon 3 will look even better "thanks to a higher contrast ratio between lights and darks."

An improved Xbox Wireless Controller, sporting a textured grip, a boosted wireless signal, and Bluetooth support, will be bundled alongside the console.

The system will come packed with either a 2TB, 1TB, or 500GB hard drive. Those editions will retail for $399, $349, and $299 respectively, althought the latter two options will launch at a later date.

Moving forward, Microsoft plans to further expand its Xbox One lineup with the addition of an even more powerful console, dubbed "Project Scorpio."

The long-rumored mid-cycle upgrade will, according to Xbox's Phil Spencer, offer 4K gaming and virtual reality support when it eventually hits shelves.