UPDATE: Release Date – Microsoft has officially confirmed that the XboxSeries X and the Xbox Series S will be launched on November 10.  The consoles can be pre-ordered starting from September 22. The price of the Xbox Series S has already been revealed to be $299. The company has no announced that the top-end Xbox Series X will retail for $499.

The original story continues below.

Microsoft has been rumoured for quite a while to be working on a smaller and more affordable Xbox console. The company has now confirmed that it has got the console known as Xbox Series S in the works.

In a tweet, Microsoft describes the Series S as offering “next-gen performance in the smallest Xbox ever”. It also disclosed that the console will retail for $299 which is similar to the leaked price. The console will be sold in the UK for £249.99.

Further, the tweet also contained renders of the Xbox S giving us a better look at the device than the first leaked picture. The picture shows the device will have a thin build and won’t have a disc drive. The image shows the console in an upright position but from the logo, we can figure that it will still use the traditional horizontal orientation unlike Sony’s PS5.

Let’s make it official!

Xbox Series S | Next-gen performance in the ˢᵐᵃˡˡᵉˢᵗ Xbox ever. $299 (ERP).

Looking forward to sharing more! Soon. Promise. pic.twitter.com/8wIEpLPVEq

— Xbox (@Xbox) September 8, 2020

An earlier rumour by Windows Central says both the Series X and Series S will launch on November 10th, with the previously announced high-end Series X selling for $499. As previously reported by The Verge, the Series S (codenamed Lockhart) is designed to play next-gen games in a smaller, cheaper package with less GPU power and lower resolution output than the Series X. The console is expected to come with 1440p support, ray tracing, and 512GB SSD.

Microsoft didn’t reveal further details instead, it hinted that more information will be shared “soon.”

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