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Microsoft Corp launched a new version of its Xbox One console at the video game conference E3 in Los Angeles on Monday, bringing newer features such as support for 4K videos and high dynamic range imagery. The new console Xbox One S, which will be smaller than the Xbox One, will be available in August. The base model will be priced at $299. Microsoft also announced ‘Project Scorpio’, the next Xbox console in the pipeline, that will offer support for virtual reality.

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