Following all of the rumors, Microsoft has officially announced the new Project Scorpio, the most powerful console ever. The new Xbox is coming in Holiday 2017.
A big key feature for Xbox is that all Xbox One games coming will be available for Xbox One, Xbox One S, and Project Scorpio. Current and future Xbox One accessories and controllers will also be useable across the three Xbox One platforms.
Project Scorpio will allow developers to make games that support 4K quality; it includes 8 CPU Cores and 6 teraflops GPU Power.
Coming Holiday 2017, Project Scorpio will be the most powerful console ever created, with 6 teraflops of GPU delivering a premier console gaming experience including true 4K gaming and high fidelity virtual reality. Project Scorpio will join the Xbox One family and coexist alongside Xbox One and Xbox One S and all of your Xbox One games and accessories are compatible.
SOURCE: Xbox Wire