Project Scorpio has been in the news quite regularly since we got our first glimpse of the console at last year's E3. At its press event yesterday, Microsoft revealed new details about the machine, including the official name, price, and release date. On November 7 this year, the Xbox One X will launch worldwide for $499.

"The most powerful console ever made" boasts a 6 teraflops GPU that features 40 "customized" Radeon compute units clocked at 1172 MHz, as well as 12GB of GDDR5 memory on a 384-bit bus for 326GB/s of memory bandwidth - higher than the GTX 1080.

It also comes with a custom 8-core AMD CPU clocked at 2.3GHz, liquid-cooled vapor-chamber cooling tech, and 1 TB of storage. And while it may resemble its predecessors, the Xbox One X is the "smallest Xbox ever." It even has a 4K Blu-ray drive like the Xbox One S.

All that graphical power is used to run many games in native 4K, and there's support for high dynamic range (HDR). But those with 1080p TVs will also benefit - games on the Xbox One X will look better on HDTVs thanks to supersampling.

There will be 22 "console launch exclusives" when the Xbox One X arrives, including Crackdown 3, Forza Motorsport 7, and Sea of Thieves. Note the importance of the word "launch;" these games will also make their way to the PS4 and/or PC - Microsoft has said there won't be any titles exclusive to the Xbox One X.

There were 42 games on show yesterday, including Metro: Exodus, Assassin's Creed: Origins, State of Decay 2, and BioWare's Anthem.