Microsoft revealed its new Xbox One X console on stage at E3 earlier today, and now the company is announcing the price: $499. The new gaming console will debut on November 7th priced at $499, exactly $100 more than its main competition the PlayStation 4 Pro. The Xbox One X is more powerful at 6 teraflops of graphical power vs. the 4.2 teraflops found on the PlayStation 4 Pro, and it also includes an Ultra HD Blu-ray drive.

The $100 price different will still be a point of discussion for gamers interested in both Microsoft and Sony's consoles. Sony is planning to hold its own E3 press conference tomorrow night at 6PM PT / 9PM ET, and its possible the company could announce its own PS4 Pro price cut to counter Microsoft's more powerful console. Either way, games will be the key to the success of both the Xbox One X and the existing Xbox One S, and Microsoft has focused heavily on those at E3 today.