During this weekend’s E3 events, Microsoft revealed the name and price of its secretive ‘Project Scorpio’ game console. ‘Scorpio’ has officially been named the Xbox One X and will debut on November 7. The new game console has been priced at $499.

Much like Sony’s release of the PS4 Pro, Microsoft’s Xbox One X is an upgrade to their most popular game console, the Xbox One.

All Xbox One accessories and games will be compatible with the new Xbox One X – as will all backwards compatible Xbox 360 games.

While the specs of the new system have been known and circulating since April – it has long been expected that the announcement of the console would come at this year’s E3 – the physical design of the system was previously unknown.

The Xbox One X is the “smallest Xbox ever,” according to Microsoft but, for the most part, boasts a similar design to the Xbox One S, which was released in August 2016. At the time of the new console’s announcement, the black design with 1TB storage is the only model available.

Compared with its main competitor, the PS4 Pro, the Xbox One X appears to have a computing advantage – it should be noted that the PS4 Pro was released in September 2016, more than a year later, the Xbox One X will be released.

Nonetheless, the Xbox One X will have 6 teraflops of graphical power compared to the 4.2 teraflops of the PS4 Pro. The Xbox One X’s engine will run at 1172MHz while the PS4 Pro’s engine runs at 911MHz, although the most notable improvement comes when compared with the Xbox One, which runs at 853MHz.

Microsoft’s latest console will also feature a Ultra HD Blu-ray drive for 4K movies.

With the release of Xbox One X, Microsoft will also release a host of games exclusive to the new console including Forza Motorsport 7Crackdown 3, and Sea of Thieves.