Microsoft has officially announced the new Xbox One console with 1TB of hard drive space.

Aside from the new version of the console, the company will also be releasing new controllers for the Xbox One, IGN reported.

The Xbox One with bigger storage capacity will come in a matte black finish and is scheduled to debut in the U.S. and Europe on June 16. It will be sold with a retail price of $399 or £350.

For the European market, the console will be exclusively sold by the retailer GAME for a limited time until June 20, Eurogamer has learned.

With the arrival of the Xbox One with 1TB hard drive, Microsoft has slashed the price of its 500GB variant. This console version with the original hard drive space can now be purchased for $349 in the U.S. and £300 in Europe.

Aside from the new console, gamers can get their hands on new controllers released by the company for the Xbox One. The basic black controller costs $60 while the Special Edition Covert Forces Wireless Controller, which sports a black and silver camouflage design, can be purchased for $65.

According to Microsoft's post in the Major Nelson site, the new Xbox One wireless controllers come with a 3.5mm stereo jack. This means gamers can now plug in their headsets straight into the controllers.

In addition, Microsoft also improved the controllers' bumpers and enabled wireless firmware updates. Through this feature, gamers will no longer have to connect their controllers via USB cable to get updates.

To complement the release of the new controllers, Microsoft also announced that the Xbox Wireless Adapter will arrive in stores this coming Fall.

For $25, this device will let gamers use their wireless controllers to play games on Windows 10-based tablets, laptops and PCs. It can also be used for multiplayer games since the Xbox Wireless Adapter can support up to eight controllers.