Microsoft announced Xbox One S during the 2016 E3, which is a slimmer version of the Xbox One. During the event, the company has also confirmed Project Scorpio, which is expected to revolutionize the gaming industry.

Microsoft released Xbox 360 in 2005 and gamers and it took eight years for the company to launch the successor — the Xbox One. However, Microsoft will not take a long time before it launches the next-generation console.

Phil Spencer, the head of Xbox, revealed that a new gaming console code-named Project Scorpio will be launched during the holiday season of 2017. The next gaming console made by Microsoft will be very powerful in comparison to existing ones.

The big question now arises: should you buy the Xbox One S or wait for Project Scorpio?

The Xbox One S will have the same GPU and CPU as found on the Xbox One. However, the new console will be 40 percent slimmer and will have up to 2 TB of hard drive. The console will also bring 4K Ultra HD Video and High Dynamic Range and 4K Blu-ray player support. Gamers will also have the option to make the Xbox One S stand vertically. The Xbox One S will cost $299 for the 500 GB model and $399 for the 2 TB variant.

It is worth noting, that with the Xbox One S, customers will not get 4K gaming, which is something Microsoft has saved for Project Scorpio. The upgrades to the Xbox One S may not entice many existing Xbox One owners.

Delivering 4K graphics is a challenge even for high-end gaming PCs. Such a capability would be a game changer in the industry.

Virtual reality is gaining a lot of popularity in the gaming space and Spencer added that Project Scorpio will support VR games. Todd Howard, the creative director of Bethesda, has revealed that the VR version of Fallout 4 will come to Project Scorpio, which means that a VR headset for the upcoming console will also be developed in the next few months.

Spencer suggests that Microsoft may not make the VR headset, but he did not reveal the head mounts that will be compatible with Project Scorpio.

The Xbox One S will not be a major upgrade to the Xbox One. Project Scorpio is estimated to bring a number of new features to a gaming console, especially VR, which means that waiting for Project Scorpio could be a good choice for Xbox One owners.

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