“Project Scorpio” will be VR-ready, built by AMD

At the end of next year, Microsoft is expected to announce the sequel to its Xbox One console which originally launched in November 2013, marking just a short four-year lifespan for the company’s eighth-generation video game console.

4K output, Ultra HD Blu-ray drive, starts at $299

On Monday during its E3 press conference in Los Angeles, Microsoft announced a redesigned, smaller version of its Xbox One console that will go by the name Xbox One S. The refreshed console is 40 percent smaller than the original and features a much-needed Ultra HD Blu-ray disc drive, support for 4K (3840x2160p) video output over HDMI 2.0a and support for High Dynamic Range (HDR).