Rumors about Microsoft's upgraded Xbox console, codenamed Xbox Scorpio, popped up earlier this month, and during Microsoft's E3 event, Project Scorpio was officially revealed.

　　Microsoft claims that the Scorpio will be the most powerfull console ever created when it hits the market in 2017. The Xbox Scorpio will bring 6 Teraflops of computing power to the table, and is said to deliver "true 4K gaming and high fidlity VR". The new Xbox will ship with a 8 core CPU and more than 320GB's of memory bandwidth.

　　Check out the Xbox Scorpio announcement below, courtesy of Kotaku:

　　During Microsoft's conference, several developers talked about 'Project Scorpio', including Bethesda's Todd Howard.  "Fully uncompressed pixels,” were mentioned, which would be the “highest quality pixels than anybody has seen.”

　　The next step-change for gamers and developers must deliver true 4K gaming and high-fidelity VR experiences to the console. To that end, we were happy to announce the next addition to the Xbox One family: Project Scorpio.

　　When it ships next year, Project Scorpio will be our most powerful console ever built, specifically to lead the industry into a future in which true 4K gaming and high-fidelity VR are the standard, not an exception.

　　Project Scorpio will be the first console with 6 teraflops of power, which will empower the world’s greatest game creators to fully embrace true 4K gaming without sacrificing quality, generate premier VR experiences, without sacrificing performance, and putting greater graphic fidelity in the hands of the world’s best game creators.

　　Best of all, Xbox One, Xbox One S and Project Scorpio will all be compatible. All Xbox One games and accessories will play on each device. It’s very important to us that no one gets left behind, which is a big part of why we view Project Scorpio as a new way of thinking about consoles and generations.

　　The reason that we announced Project Scorpio today is to give our developers and partners the ability to embrace its capability early, in order to start realizing their visions for the future and deliver even more great games for you.

　　Today marks the beginning of gaming beyond generations. It’s a future full of choice, and one in which we can all play together without boundaries.

　　As said, the Xbox Scorpio is slated for a release in 2017. A price hasn't been provided by Microsoft.