Microsoft's next-gen plans have been revealed as Project Scarlett (now called Xbox Series X) during its Xbox E3 2019 press conference. It's scheduled to launch in Holiday 2020, and while Microsoft didn't show off the physical system or share any details about the console's final name, price, or specific release date, the company did speak at a high level about the system and outline some of its specifications and capabilities. (However, it's worth bearing in mind that Scarlett might not be the name of a single console.)

　　Scarlett has a custom-designed Zen 2 processor from AMD, and it will feature an SSD that will reportedly help to dramatically improve load times and also function as virtual RAM. The system boasts high-bandwidth GDDR6 memory, and overall it is said to be four times as powerful as the Xbox One X, the most powerful console on the market today. It also does have a disc drive.

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　　Now Playing: New Xbox At E3: Everything We Learned About Scarlett

　　AMD's CEO, Lisa Su, attended the Xbox briefing today. She congratulated Phil Spencer and team at Xbox for the announcement and their collective "amazing vision around gaming."

　　"So honored and proud to create the future of gaming with Project Scarlett together with your incredible team," Su said to Spencer.

　　Congratulations @Xbox @XboxP3 on just an amazing vision around gaming. So honored and proud to create the future of gaming with Project Scarlett together with your incredible team!!!! pic.twitter.com/QdaI2EU7n6

　　— Lisa Su (@LisaSu) June 9, 2019

　　Xbox Scarlett is capable of variable frame rates up to 120 FPS and 8K visuals. According to Microsoft, "hundreds" of people are working on the new Xbox right now, and it'll support the games and accessories you may already own.

　　Many of these details line up with Sony has described about the PS5, which will also support 8K and backwards compatibility and come equipped with an SSD.

　　The Xbox Scarlett console, or whatever it is actually called, will launch in Holiday 2020. Pricing was not announced. But what we do know is that Halo Infinite will also release in Holiday 2020, presumably as a launch title for the new console.

　　Xbox Series X And Xbox One News

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　　Microsoft was rumored to announce another Xbox console during the event, but it didn't happen. Our previous understanding was that Microsoft will offer multiple next-gen Xbox systems, not unlike how it has the Xbox One X and Xbox One S currently.

　　According to Microsoft insider Brad Sams, Scarlett is the name of Microsoft's overall next-generation console strategy. Anaconda is a high-end model, the system announced today, and the second is the lower-spec model, Lockhart, that wasn't shown today.