Xbox Project Scorpio release date, specs, price rumors: Analyst predicts upcoming console will cost $399

Microsoft, Sony and Nintendo are considered as the three giants in the video game console market, with the first two companies constantly battling it out for supremacy. While Sony may be currently dominating the segment due to the successful release of the mid-generation PlayStation 4 Pro (PS4 Pro), Nintendo is hoping to gain a lot of consumers with the arrival of the Switch hybrid console in March 2017. However, they shouldn't rest on their laurels as Microsoft is set to introduce Project Scorpio, touted to be a monster gaming system with 4K and virtual reality compatibility, in late 2017.

Recently, Michael Pachter, a Wedbush Securities analyst adept in trends in the gaming industry, predicted that Project Scorpio will be priced at $399. He said that if the price was any higher, it would not be able to compete with the PS4 Pro. Likewise, the analyst predicts that demand for the Nintendo Switch will also be high. Given the predicted landscape for next year, Microsoft will have to make sure that the next-generation console is priced competitively.

It has been reported that the upcoming console will come with 6 teraflops of power and a transfer speed of 320 GB per second (GBps). It is also expected to feature a central processing unit (CPU) and a graphics card from Advanced Micro Devices (AMD). Despite the massive amounts of power, it won't be too expensive that most gamers won't be able to afford it.

"I want Scorpio to be at a console price-point, I'm not trying to go and compete with a high-end rig. And because we're building one spec, we're able to look at the balance between all the components and make sure that it's something we really hit that matters to consumers and gamers," Xbox head Phil Spencer told Ausgamers earlier this year.

To entire loyal Xbox gamers to upgrade to Project Scorpio, it has been announced that the console will have backward compatibility with all Xbox 360 and Xbox One titles. This allows Microsoft's patrons to keep their library of games intact even if they are changing consoles.

The Xbox Project Scorpio is expected to arrive during the holiday season in 2017.