Following months of speculation and teasers, Microsoft officially unveiled the Xbox One X at E3 2017.

Worked on under the codename "Project Scorpio," the announcement comes just days after Microsoft teased what looks to be one of the Xbox One X's main taglines: "Feel True Power."

Billed as "the most powerful console ever," the system comes in black while specs include a whopping six teraflops of graphical power, more than the PS4 Pro which pushes 4.2 teraflops.

The console is also the smallest Xbox ever and features a custom GPU engine runs at 1172MHz, a big improvement over the Xbox One’s 853MHz and the PS4 Pro's 911MHz.

The Xbox One X comes packed with an Ultra HD Blu-ray drive for 4K movies and entertainment, alongside a standard 1TB of storage and liquid-cooled vapor-chamber cooling, normally reserved for high-end PC gaming.

Welcome news to current Xbox gamers: all Xbox One accessories will work on the new Xbox One X, alongside all existing Xbox 360 backwards compatible titles and Xbox One games. Microsoft is planning to use "super sampling" on the One X to make new games look better even on 1080p TVs.

"Console launch exclusives" include titles like Crackdown 3, Forza Motorsport 7 and Sea of Thieves.

The Xbox One X launches on November 7 worldwide for a retail price of $499 USD, £449, 499 euro, 599 Canadian dollars and 649 Australian dollars. Check out some highlights and upcoming titles from the Xbox E3 2017 event below.

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