Project Scorpio has been in the works "for well over a year", head of Xbox Phil Spencer has revealed, describing the console as "the high-end of our line of Xbox One consoles".
Talking about the new console to Xbox Live's Major Nelson, Spencer said: "Project Scorpio is something we've been working on for well over a year and to get to announce and talk about it openly with customers and developers over the next year is going to be great, and just to have a more open conversation about hardware innovation in the console space I think is a great thing."
Microsoft revealed Project Scorpio along with a new slimmer console, the Xbox One S, at its E3 press conference earlier today, confirming that the more powerful console would go on sale in holiday 2017.
But despite the more powerful console being just around the corner, Xbox One S is still a good console for "millions and millions of people", Spencer believes.
Xbox One S "is a great price for a console that will play all of the Xbox One games that are out there, all of our 360 back compat games and all of the Xbox One games that are coming," he continued. "So this is a great part of the Xbox One family of devices and it'll be I think a very good console for millions and millions of people.
"Project Scorpio is a true native 4K console. If you've got a 4K TV, if you're thinking about 4K gaming is what I want to experience but I don't want to lose access to all the Xbox One games I've already purchased or want to go buy, or the Xbox 360 back compat games I'm playing, Scorpio is the high-end of our line of Xbox One consoles.
"So we're able to go out there and say, you can make the choice based on your lifestyle, your budget, what you want to go buy, but know that you're not getting left behind and you're also not getting locked out of future hardware innovations. So we're able to build a family of devices that really will support you end to end."
Xbox One S goes on sale this August with prices starting from £249. A price for Project Scorpio has yet to be announced.