Microsoft only revealed the Xbox One S last month, but that hasn’t stopped it from announcing another update to its latest generation console for those who have a thirst for media. Dubbed the 2TB Xbox One S, the new console does exactly what it says on the tin – it increases the storage size to 2TB.

When CE Pro Europe reported the launch of the Xbox One S it lauded it as the most affordable true Ultra HD Blu-ray player on the market, and that is still true today. In fact, the 2TB Xbox One S will cost around $399, which is cheaper than both the Panasonic and Samsung Ultra HD Blu-ray players.

The Xbox One is already an extremely capable media playback device but with a 2TB hard drive, the 2TB Xbox One S ensures that users will never run out of space for all their media. For those who would prefer smaller hard drive options however, Microsoft also offer the console in 1TB and 500GB flavours.

Xbox One S is the most compact Xbox yet, 40% smaller than the original Xbox One and includes a built-in power supply. Microsoft also shifted one of the three USB ports and the pairing button to the front of the Xbox One S alongside the newly added IR blaster for increased accessibility.

Beyond the new design, Microsoft has built the Xbox One S as the first and only console that allows users to watch Blu-ray movies and stream video in 4K Ultra HD with High Dynamic Range (HDR). HDR support has also launched for games, beating Sony’s PlayStation 4 to the punch.

Like the Xbox One S 500GB and 1TB, the 2TB Xbox One S will launch on August 2 in the following countries: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Turkey, UK and United States. Microsoft then plans to roll it out into more markets in the future.