During its event this afternoon, Amazon took the wraps off its new Fire TV with 4K and HDR capabilities. The announcement comes on the heels of rumors hinting at the impending arrival of an upgraded Fire TV after Amazon pulled it from its site earlier this week.

The new Fire TV now supports 4K and HDR and has been redesigned in a new square frame that’s very small. It will display 2160p video at 60 frames per second, will have integration with Dolby Atmos and will come with an Alexa voice remote.

Amazon has lagged behind in supporting 4K content. The 4K Fire TV was likely in the works for some time, but its announcement took on more importance after Apple announced its Apple TV 4K with new pricing scheme for 4K content a few weeks back. This forced Amazon to one-up the announcement by slashing the price of 4K content earlier this week.

Powering the new Fire TV is a 1.5GHz quad-core processor. It will have access to more than 500,000 TV shows and movies along with access to the myriad of Alexa skills available.

The new Fire TV will cost $69, but Amazon is also offering a bundle with the Echo Dot for $80. It will be available for purchase later this year.