Microsoft debuted its next gen Xbox here at its press conference at E3. Microsoft is calling it Project Scarlett, and it will release in Holiday 2020. No pictures of the system were shown, nor was a price announced.

The next gen console uses AMD's Zen 2 architecture and Navi graphics, which Xbox boss Phil Spencer said it co-engineered with AMD. It also uses GDDR6 memory and an SSD that doubles as virtual RAM.

"It's not just PC, it's not just console, it's not just mobile," one Xbox team member said in a trailer.

The company said it will have ray tracing and frame rates up to 120 fps.

Halo: Infinite will launch alongside the system, and you can read more about that here.

The company hinted that streaming services will be a big part of the console, but didn't specify how. Project xCloud will be coming to existing Xbox Ones, however, so it's very possible this will have a similar offering.

Previously, competitor Sony had detailed that its next-gen PlayStiation would be based on AMD's Zen 2 8-core processors and Navi graphics, support ray-tracking, and, in some circumstances, offer 8K graphics. The company also said it will use an SSD out of the box and have a custom audio chip.