Microsoft has announced early this morning that gamers looking to jump onto the Xbox bandwagon but previously put off by the much larger $599 price tag for Xbox One in Australia, need not worry anymore with a new $499 price tag announced.

This new Xbox One will come unbundled with a Kinect, and will be available on June 9th in all markets where the console is currently being sold. Those wanting to jump into the Kinect action will be able to purchase a standalone Kinect, though a price has yet to be announced.

The new Xbox One SKU will continue to deliver all the great Xbox One features, including access to multiplayer on Xbox Live and unmatched blockbuster games like "Titanfall," "Call of Duty: Ghosts," "Forza Motorsport 5," "Dead Rising 3," "Ryse: Son of Rome" and upcoming titles such as "Watch Dogs," "Destiny" and "Sunset Overdrive." You can also access popular entertainment apps, such as Twitch, YouTube, and Netflix, as well as watch live TV and use OneGuide. That's in addition to the features that already make the Xbox One great, including the ability to get game invites while you watch TV, switch between games and entertainment apps, enjoy Twitch broadcasts, and upload your favourite gaming moments.

Alongside the rather large announcements of no Kinect and a price drop, Microsoft has also announced their Games with Gold initiative will be making its way to Xbox One come June. Members will have subscription-based access to free games ranging from top hits to breaking indie stars. The program will launch on Xbox One with Max: The Curse of Brotherhood and Halo: Spartan Assault. Xbox 360 users subscribed to Gold will be treated with an extra game in June for Games with Gold, which will include Dark Souls, Charlie Murder and Super Street Fighter IV: Arcade Edition.

Microsoft has also announced that a handful of popular entertainment apps will now be available for free, confirming yesterday's rumours. These include gaming apps like Twitch and Upload, popular video services like Netflix and HBO GO, sports experiences like the NFL app for Xbox One. Microsoft experiences including Internet Explorer, Skype, OneDrive and OneGuide will also be available to all Xbox customers. A convenient poster can be found here that will give a great overview of all the changes.