Update: We have a price! As per the official Xbox website, the Philips Momentum 559M1RYV will be available for an eye-watering $1599.99 USD, launching this summer. Philips will also have other Xbox licensed monitors in the future.

The Philips Momentum supports 4K resolution at 120Hz powered by AMD FreeSync Premium Pro technology to reduce screen tearing. It also introduces a new, dedicated Xbox picture mode. Players can enjoy high-contrast HDR with the VESA Certified DisplayHDR 1000, offering local-dimming and peak luminance more than 3x that of mid-grade displays on the market.

In addition, both ASUS and Acer have also announced 'Designed for Xbox' gaming monitors today, both of which are set to release a little later than the Philips Momentum 559M1RYV, but nevertheless will be available later this year.

Original story: We've got an interesting announcement coming from Philips Monitors Asia Pacific today, which has revealed that the 'world's first monitor designed for Xbox' is on the way in the form of the Philips Momentum 559M1RYV.

The monitor is "built from the ground up to provide the ultimate experience for Xbox fans," featuring HDMI 2.1 capabilities (meaning you can play at up to 4K, 120fps on Xbox Series X), low latency and low lag, and an 'Xbox Game Mode', which is said to "create an exciting mode with specially tuned picture quality for Xbox."

Here's what Matt Kesselring, director of Xbox hardware partnerships had to say about the monitor:

"At Xbox, we are always looking to give our fans choice in how, what and where they play their favorite games. Today, we're excited to announce our partnership with Philips to deliver the first Designed for Xbox monitor, giving fans a unique display with technology and features that provide the ultimate console gaming experience for Xbox Series X|S."

Unfortunately, we haven't come across a price or a release date for the Philips Momentum 559M1RYV as of yet, and while an official website page does exist for it on certain Philips websites, it's listed as not currently available.

Here's the full list of features for the 55' monitor as per an official Philips document:

Designed for Xbox

• Designed for Xbox for the optimal gaming experience
• Smooth console gaming at 4K / 120Hz
• 4K / 144Hz PC gaming on the big screen
• Purpose-built for low latency gaming
• DisplayHDR 1000 for truly vivid details and realism

Design for immersive entertainment

• Integrated Bowers & Wilkins speakers for immersive sound
• Ambiglow adds a new dimension to your viewing experience

Features for gamers needs

• LowBlue mode and Flicker-free easy-on-the eyes viewing
• USB-C one cable does it all
• MultiView enables simultaneous dual connect and view

We're assuming more will be revealed soon, so we'll let you know if and when we get a price / release date.

Any interest in the Philips Momentum 559M1RYV? Let us know down in the comments below.