The worst kept secret due to numerous leaks has now been made official by Microsoft themselves. The Xbox Series S has been announced in pretty anticlimactic fashion and will retail for $299.

That’s really, REALLY cheap.

No other information has been provided by Microsoft but they have said that there will be more information coming soon, most likely later this month, when it will probably reveal the launch date (and price) for the Series X as well.

Earlier today, a massive leak about the Series S, including a reported November 10 launch date, was making the news rounds. The info leak also rumored the Series X to be priced at $499, which is probably not too far off considering the price tag on the Series S.

Part of the Series S leak was a rumor that the Series S will be sporting “around 4TF RDNA2, making it roughly around as powerful as the Xbox One X, perhaps geared towards 1080p monitors with better frame rates.” The Series S is also set to be the all-digital version of their next-gen offering and won’t have a disc tray.

On the other hand, Sony has yet to share any new details regarding the PS5.