June 11 (UPI) -- Microsoft unveiled its new gaming system, the new Xbox One X, on Sunday at the annual E3 Expo in Los Angeles, saying it's "the most powerful console ever made".
Microsoft will roll out the new gaming system -- promoted as Project Scorpio -- on Nov. 7. The company had given some information about the model but announced Sunday its actual name, its availability and its $499 price.
The new Xbox can play the same games as the Xbox One but with better graphics -- something the rival PlayStation 4 can do.
The Xbox One and PlayStation 4 debuted in 2013. Sony launched the new PlayStation 4 Pro last fall.
The new rival systems are capable of sending signals to televisions with 4K technology. Also, the Xbox One X can support virtual reality.
Xbox One X has 6 teraflops of computing power -- 40 percent more power than any other console, according to Microsoft -- and 12 GB of GDDR5 RAM.
Besides being its most powerful system, it is also the smallest and utilizes a liquid cooling system.
Xbox will provide a "backward-compatibility library" of nearly 400 popular Xbox 360 games to include original Xbox classics, starting with fan favorite Crimson Skies. Xbox also revealed other games will receive free updates to utilize the power of Xbox One X.
Microsoft introduced 42 new games, including 22 new ones with console exclusivity.
"Xbox empowers game developers large and small to create different types of games for every type of player," said Phil Spencer, head of Xbox. "Not only do we have the biggest cross-platform blockbusters on our platform, we've also scoured the world to bring our fans unique content from creative artists that capture the imagination."
Dave Thier, a contributor for Forbes, said consumers criticized Xbox One for concentrating too much on non-gaming applications and "just couldn't compete with the cheaper, better-performing PS4."