Microsoft recently revealed the 1TB Xbox One officially via its YouTube channel. Larry "Major Nelson" Hyrb, highlighted the features of the new console, along with its price and availability.

According to the company, the new Xbox One will be available on June 16, which is a day after the two major E3 2015 press conferences. This means Microsoft will not talk much about the new console at the event and will likely focus more on the games.

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When it comes down to the design of the new Xbox One, it is the same as the first, but with a different finish. The first had a clean, shiny finish that is prone to scratches, but this time around, Microsoft chose to go with matte instead. The matte finish doesn't look like a top of the line machine, but that shouldn't matter much since it protects the system from minor scratches.

In addition to the new coating, the system as stated above, comes with a 1TB built-in hard drive and a new controller. At first it was thought that the only unique aspect of the new controller is the 3.5mm jack, but that is not the case as the device also comes with improved trigger buttons for more efficient gaming.

The controller can also receive updates wirelessly, so no more having to attach the controller to the console vis USB to get updates.

In terms of pricing, Microsoft says the new 1TB Xbox One will cost $399 at retail, and the 500GB models will now get an official price cut to $349. The software giant has been selling the 500GB models for $349 since November 2014 and chose to keep the promotion going, due to high demand.

No word on whether or not the Kinect model will also experience a price cut in the near future; however, we suspect it might since the camera is all but dead.

TagsXbox One, Xbox, E3 2015, Gaming