Microsoft has once again announced a price cut for the Xbox One. Starting this week, you can pick up an the 500 GB model of the console for the low price of $249 at participating retailers. It will be available for a limited time but applies to all 500 GB bundles, including the Name Your Game Bundle which packs in one free game of your choice. These games include: Forza Motorsport 6, Rise of the Tomb Raider, Gears of War: Ultimate Edition, or Rare Replay.

The announcement comes just before the launch of the Xbox One S. The console was announced at Microsoft’s E3 press conference this year and will be 40 percent smaller than the original console. It will be capable of playing all current and future Xbox One games in 4K resolution.

For gamers looking to get their hands on the updated console,  Microsoft has also announced that they are currently taking pre-orders for the limited edition Gears of War 4 Xbox One S. This console comes with 2GB of storage and is bundled with a digital copy of Gears of War 4: Ultimate Edition, along with exclusive in-game items and more. This bundle will release along side Gear of War 4 on October 11th.

The Xbox One S is set to release on August 2nd of this year.

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