There's a catch however. This isn't just the straight console, it's the Xbox One S with FIFA 17 for download, so you'll be getting one of the hottest games of the year bundled into the mix too. That's the catch, but we're sure you can live with that.
The redesigned Xbox One S is smaller than the original, moving to white, and gives the controller a tweak, including a lovely textured finish for more grip. But the biggest change - and one of the things that will be of greatest interest - is the support for 4K resolutions and the inclusion of an Ultra HD Blu-ray player.
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That means that the Xbox One S 500GB is the most affordable Ultra HD Blu-ray player on the market at only £249.99. Even if you step up to the 1TB version at £299.99, you're still looking at an Ultra HD Blu-ray player that's cheaper than both existing players on the market from Panasonic and Samsung.
Not only that, but the Xbox One S supports HDR (for future gaming) and will give you UHD services like Netflix 4K, making it one of the most compelling entertainment packages around.
The Xbox One S 500GB and 1TB consoles are now available for pre-order on the Microsoft website as part of the FIFA 17 bundle and the release date is listed as 22 September 2016.
The Xbox One S 2TB console sold out, so get those pre-orders in.