The sun may be setting on the current video game console generation, with Microsoft’s Xbox One and Sony’s Playstation 3 both on the way for the second half of 2013, but Microsoft isn’t ready to let their current console drift away from the market just yet.

Microsoft unveiled a new model of their flagship system, the Xbox 360, on Tuesday as part of their E3 presentation. E3 (the Electronic Entertainment Expo) is an annual, Los Angeles-based convention where all video game developers get together to present their upcoming slate of gaming titles and hardware updates. While many expected this year’s event, which runs through Thursday, to center entirely upon the Xbox One and the Playstation 4, Microsoft surprised audience with a move meant to breathe new air into the aging Xbox 360.

The new 360 will boast a sleek design meant to mimic the upcoming Xbox One, and will arrive on store shelves in the coming weeks with a variety of different packages and bundles to choose from. And while the announcement of new, next generation models has traditionally caused developers to cut back on creating new titles for the older ones, Microsoft made sure to showcase a plethora of new content for the 360 at this year’s E3, from console exclusives (“Max: The Curse of the Brotherhood,” “World of Tanks”) to new entries in blockbuster gaming franchises (“Grand Theft Auto V,” “Assassins Creed IV”).

Microsoft’s good will toward their gamers didn’t stop there, however: the company announced a plan to offer all qualifying Xbox Live Gold members two free Xbox 360 game downloads per month. The promotion will run throughout the second half of this year, from the beginning of July to Dec. 31, a generous offer that will give gamers a chance to experience more titles while also keeping Microsoft’s 360 console relevant and in demand as the video game landscape shifts around it.

The new customer-friendly model relates back to Microsoft’s mission statement for the Xbox One, a vow to offer entertainment and gaming opportunities for the whole family. Since new consoles generally hit the market with high price points, the introduction of a revamped Xbox 360–with models reportedly available for as low as $199–is a classy way for Microsoft to encourage newcomers without demanding they purchase a piece of state-of-the-art technology.

“Xbox 360 offers unrivaled value — with more great games, an Xbox Live community with 48 million members, and a compelling lineup of apps, sports, movies, TV shows and music,” said Yusuf Mehdi, a chief marketing officer with Microsoft’s gaming division. “We’ve taken all we have learned these past eight years and engineered a new Xbox 360 console that is elegant and accessible to anyone. There’s never been a better time to experience everything Xbox 360 has to offer.”