An updated Xbox 360 console is available from today, Microsoft announced at its E3 2013 press conference today.

According to Microsoft's Yusuf Mehdi, corporate vice president of the company's Interactive Entertainment Business, the new Xbox 360 is smaller, sleeker and as "quiet as ever." The console will feature a "modern look and feel" based on the Xbox One design.

The remodelled hardware comes ahead of the launch of Microsoft's next-generation console, the Xbox One, which was announced in May and is slated to launch in November this year.

Microsoft also announced today that beginning July 1, Xbox Live Gold members are going to receive two free game downloads. The Xbox 360 launched in North America in Nov. 22, 2005. In February, Microsoft revealed that more than 76 million Xbox 360 consoles and 24 million Kinect sensors have been sold worldwide.

According to a tweet from the Xbox Support account, the price of the Xbox 360 will remain the same.

@lgladdy The new Xbox 360 will remain the same price as it is today ^JN

— Xbox Support (@XboxSupport1) June 10, 2013