Microsoft is expected to unveil its upcoming next-generation console, dubbed Project Scorpio, within the year. The tech giant has yet to reveal the specifics of the device, but it is expected to carry high-end specs at a premium price range.

Speaking to The Guardian, Xbox Head Phil Spencer admits that although the upcoming console will have premium pricing, there is a good chance the console will not be overpriced.

Spencer said, "But I actually feel with Scorpio we've been able to hit a really nice price/performance ratio. When we talk about the price, I think people will see that. It is a premium product, there's no doubt, but I think relative to the PC that you could go buy at this spec, you're gonna feel really good."

The high-end console will feature eight custom x86 cores that will run at the clock speed of 2.3 GHz. It will carry a 1,172 MHz graphics processor and 12 GB system memory. With this in mind, the device is expected to carry 4K resolution gaming, with full support for HDR color. Scorpio is, according to Spencer, for gamers who want to have the console game experience transferred to TV.

Although the device will have the AMD Jaguar class processor, the same one that powers the original Xbox One and the PlayStation 4, the device is expected to outperform Sony's PS4 Pro. Microsoft has not switched to a more powerful console, but its Jaguar processor has been modified and updated specifically for Project Scorpio.

Project Scorpio, without a doubt, is made specially for high-end gaming. Again, Microsoft has yet to announce its price, but rumors suggest that its debut price could be at $499, similar to that of Xbox One's launching price. However, some reports point out that the Xbox One did not fare well because of its $499 launch price. Perhaps the tech giant will come up with a better strategy this time.

More updates should rollout in the weeks to come.