Microsoft has officially confirmed the next video game console at this year's Electronic Entertainment Expo (E3). The upcoming console, codenamed Scorpio, will support 4K gaming and handle games in virtual reality(VR). The Scorpio will outfit an 8-core CPU.

Microsoft said the upcoming console will have the most powerful GPU ever with 6 teraflops of raw performance. The company also said the new device will play all existing Xbox One games and work with all Xbox One accessories.

"We believe it'll be the most powerful console ever built, with 6 teraflops of power, this will be the console to lead us into true 4K gaming," said Phil Spencer, head of Xbox, at the Microsoft event.

"The next step change for gamers and developers must deliver true 4K gaming and high-fidelity VR. I'm really excited to share what we have been working on," said Spencer.

The Verge said it is unusual that Microsoft reveals a new game console so early. Spencer explained that Microsoft wants to give customers the information to make that decision on what console they want to buy.

Spencer did not reveal the specific release date, and said it is coming "holiday 2017", however, the enhanced version of the Xbox One is expected to launch sometime next fall.

The Project Scorpio is also reported to come out with a larger 2TB hard drive.