A new Ultra HD Blu-ray player has arrived on the market, in the form of Microsoft's Xbox One S gaming console. The new Xbox One S, which is 40 percent smaller than the original Xbox One, supports High Dynamic Range playback for both movies and games, and it includes a 2TB hard drive for $399. Lower-priced 500GB and 1TB versions will be available soon. Below is a post from Microsoft's Xbox Wire blog, announcing the new release.

From Microsoft
Xbox One S has arrived. The 2TB Xbox One S launch edition is now available in select markets at Microsoft Stores or your local retailer. Demand is extremely high, and the 2TB launch edition is only available in limited quantities, so go out and get yours today to enjoy this holiday's greatest games.

A few of our favorite features of the highly anticipated, newly designed Xbox One S include:

Xbox One S offers a great value as one of the top 4K Ultra HD Blu-ray players on the market--which means you can watch your favorite movies in stunning 4K. The 2TB launch edition Xbox One S will be available for $399 USD, with 1TB and 500GB Xbox One S options starting at $299 USD over the coming weeks.

You can play over 100 console exclusives, and with High Dynamic Range (HDR) support for video and gaming, Xbox One titles like Gears of War 4, Forza Horizon 3, Scalebound and NBA 2K17 will look even better thanks to a higher contrast ratio between lights and darks, bringing out the true visual depth of your favorite games. And don't forget about the growing library of backward compatible Xbox 360 games.

You can also stream movies or TV shows in 4K Ultra HD with content from partners like Netflix available now. More content from Amazon Video and others is on the way!

Xbox One S is 40 percent smaller than the original Xbox One, featuring a built-in power supply. No more brick!

Haven't gotten your hands on a 2TB launch edition yet? There's still time. Plus, we recently announced the first custom Xbox One S with the Xbox One S Gears of War 4 Limited Edition 2TB Bundle.

We're also gearing up to launch 500GB and 1TB Xbox One S bundles later this month, so there will be more options to choose from. Last week, we announced the first of many bundles coming this year, with the Xbox One S Madden NFL 17 Bundle and Xbox One S Halo Collection Bundles launching August 23. Pre-orders are open now.

Read the complete blog post here.