A new gaming console equipped with a 4K display and an eight-core CPU will be revealed on June 11 at E3 2017. Xbox Project Scorpio is expected to arrive later this year, probably in time for the Holiday season.

Reportedly, Xbox Project Scorpio could "wipe out" other consoles in the gaming industry. According to Dave McCarthy, Xbox's Head of Operations, it could be the most powerful gaming system ever built. Here's what we know so far.

Xbox Project Scorpio: How powerful is it?

Trusted Reviews reported that Xbox Project Scorpio may run a graphics card with 6TFLOPs of power. However, it did not identify the manufacturer of the eight-core feature. If the source is right, then Microsoft's newest tech toy can generate a trillion floating point operations per second.

In addition, a 320GB/sec of memory bandwidth thrives inside the system of the Xbox Project Scorpio. It would also be capable of playing games in 4K resolutions at 60Hz. The motive for Microsoft's pragmatism boils down to its attempt to keep up with the demands of the virtual world. Right now, 4K TV's are becoming the standard for buyers looking to invest in high-end equipment.

By the time Xbox Project Scorpio launches, it will be the equivalent of a mid-range 2017 PC. Nevertheless, various media outfits hint that the console will not ship with ESRAM. Therefore, the problem with Xbox One's slow DDR3 RAM may still be present.

How much is the Xbox Project Scorpio?

According to Highsnobiety, the E3 briefing for Xbox Project Scorpio happens at exactly 2 p.m. at the Galen Center. Xbox head Phil Spencer told The Verge that they are not yet ready to unveil prices at the moment. However, fan theories are swarming online ever since the news broke out.

If we consider the cost of a VR-ready PC, which is about $600 to $900, the Xbox Project Scorpio may not move too far from that. Still, that is a lot of cash on a console compared to the earlier Xbox One S. The latter sells at $299 only for the base model.

At the end of the day, this is Microsoft's chance to show the world that it is serious in developing VR. Hopefully, it would be enough to keep gamers from shifting their loyalties to other platforms. The Xbox Project Scorpio will have the same library of games as the S series like Fallout 4 VR and Halo 5.