Today, during Microsoft's E3 2017 press briefing, the house of Xbox revealed the price of the newly announced Xbox One X.

The console will retail at $499, as many predicted.

Xbox One X will be the "smallest Xbox console ever," and comes with a lot of horsepower under its hood (at least for a console), including a CPU/GPU combo capable to deliver 6 teraFLOPS of computing power, 12 gigabytes of GDDR5 RAM, a one terabyte hard disk drive, and a 4K ultra HD Blu-ray disk driver. It’s said to be able to deliver true 4K games to the console space.

Several first and third party games will get free Xbox One X updates when the console launches, including Gears of War 4, Killer Instinct, Halo Wars 2, Minecraft, Forza Horizon 3, Halo Wars 2 will, Final Fantasy XV, Resident Evil VII, Tom Clancy's Ghost Recon: Wildlands and Rocket League. That's not a full list, and more will come.

It’ll be certainly interesting to see how widely Xbox One X will be embraced by the audience, and whether the market will welcome and reward its combination between power and pricing or not.

Xbox One X will be released worldwide on November 7th.