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Jun 16, 2017 11:02 AM EDT

After several months of anticipation, Microsoft officially announces the key details of its upcoming Xbox Project Scorpio, with the console's official name, the Xbox One X. The tech giant touted its highly anticipated gaming system as the most powerful console ever created. Nonetheless, Sony's Jim Ryan stated that the power advantage of the Xbox One X over the Playstation 4 Pro won't be that evident when it rolls out this winter.

During the Microsoft E3 briefing, the tech giant reveals its console's official name, the Xbox One X. The Redmond, Washington based tech titan also revealed that the Xbox One X gaming console will be available on Nov. 7 with a $499 price tag. Microsoft made it known that the Xbox One X will be the smallest Xbox yet, Express reported.

Current Xbox One console owners will be glad to know that the Xbox One X will be compatible with all of their existing accessories. Microsoft's new console will also be compatible with the Xbox 360 backward compatible library.

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Nevertheless, Head of Global Sales and Marketing at Sony, Jim Ryan, stated that the power advantage of the new Xbox One X console over the Playstation 4 Pro won't be that evident when it rolls out. Ryan reckons video game developers won't have time generally to make two game versions for both gaming systems.

Ryan thinks game makers will make one enhanced version that will work identically on both Xbox One X and PS4 Pro. As a result, the six teraflops of Xbox One X won't be needed. Ryan seems mostly unfazed about Microsoft's highly anticipated Xbox One X console, VG 24/7 reported.

That being said, the tech titan confirmed several games for the Xbox One X console. Games included in the Xbox One X are "Metro: Exodus," "Dragonball Fighter Z," "Assassin's Creed: Origins," "Deep Rock Galactic" among others.

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