Microsoft has announced its next Xbox console.

Xbox One X

Xbox One X

Nicknamed Project Scarlett, the next generation hardware is set to launch "holiday 2020", and the company has already given gamers a taste of what's to come.

Xbox boss Phil Spencer made the announcement during the E3 2019 press conference, and it is set to have around four times the power of its Xbox One X predecessor.

As well as a custom "Zen 2 and Navi processor from AMD, the console will also support up to 8K visuals with frame rates of up to 120 FPS.

The company confirmed it will support ray tracing, and - just like Sony's upcoming PlayStation 5 - it will have an SSD for faster loading.

While Project Scarlett will support for generations of content - which likely means Xbox One, 360 and original Xbox games alongside next-gen releases - it is also set to launch with 'Halo Infinite'.

Meanwhile, Spencer also hinted that the new machine would be designed to take full advantage of the internet's capabilities, although no further details - including how the console will actually look - were revealed.

He said: "When we talk about Xbox in the cloud, when we talk about streaming your games, Project Scarlett and all of its power and all of its performance is the foundation of our future in console and the formation of our future in cloud."