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Microsoft will start shipping its $7,000 Surface Hub on July 1

Microsoft officially announced on its blog on June 10 that the Microsoft Surface Hub, which was initially showcased at a company event in January, will be available for businesses starting on July 1. However, the product won’t come cheap, starting at $7,000 for a 55-inch edition. The 84-inch version will cost you $20,000.

“While there are a number of devices designed to improve our productivity as individuals, there has yet to be a device that is truly optimized for a group of people to use together — designed not just for what we need to do, but how we want to work. Until now,” said Mike Angiulo, corporate vice president of Microsoft Devices. “Just as the PC revolutionized productivity for individuals, Surface Hub will transform the way groups of people work together.”

Related: Microsoft announces Surface Hub, a massive touch-enabled TV for productivity

Initially, the Surface Hub and its accessories will begin shipping in 24 markets, including the U.S., Canada, Australia, Japan, and the United Kingdom. Microsoft wants the Hub to become the “center of workspace transformation initiatives.”

The device comes with built-in Wi-Fi, Bluetooth 4.0, and “a wide variety of ports” for the utmost connectivity, according to Microsoft. The Surface Hub is also integrated with optically bonded displays that are capable of detecting 100 points of multitouch.

Related: Read Microsoft’s lips: There will be no annual fee for Windows 10

You can use up to three pen inputs at once, and there are two 1080p front-facing video cameras. The product has a fourth-generation Intel Core processor, and the 55-inch version has Intel HD Graphics 4600. If you opt for the 84-inch edition, you’ll have a NVIDIA Quadro K2200 for graphics.

Background noise during video conferencing won’t be a problem with the Hub. A four-element microphone array detects and follow voices, meaning it is designed to eliminate any noise in the background.

Microsoft notes that it is partnering with companies around the world, including AMX and Crestron, to examine collaboration spaces more “holistically” with the Hub. For now, we’ll have to wait and see how many businesses are willing to foot the bill for this product in their boardrooms.