Tech giant Microsoft has recently announced that their highly anticipated Xbox Project Scorpio is going under development at speeds way ahead of the console's schedule.

Since Sony decided to unveil their latest PlayStation 4 Pro, Microsoft countered by teasing Xbox fans after they mentioned the current progress on Xbox Project Scorpio's development.

According to Microsoft's Phil Spencer, Xbox One Scorpio is currently undergoing a speedy development, suggesting that the console's progress is ahead of schedule.

"I'm in a day long review of where the team is on Scorpio right now, amazing progress and we are feeling good about schedule," Spencer said. Furthermore, Spencer also mentioned that upon the release of the Xbox One Scorpio, it could easily become the most powerful gaming console in the market with its high-level specifications, features, and hardware.

However, some speculations suggest that even though Microsoft announced that the Xbox One Scorpio's development is ahead of schedule, the console might still not have an earlier release.

But according to Spencer, "There is a lot of time to go, but we feel good about how the things are coming together."

Once the Xbox One Scorpio gets released, Xbox fans will be able to enjoy a console that sports 6 teraflops of GPU. What's more is that the console is said to support Virtual Reality as well as 4K high-resolution viewing.

On another note, some rumors suggest that since the Xbox One Scorpio will posses high-level specifications, features, and hardware, the console might also come with a heftier price tag than other consoles available in the market.

Despite the lack of official information from Microsoft as to when Xbox One Scorpio will be released, the console is expected to be available in the market in the holiday season of 2017 with a hefty price tag that could range from $700 USD up to $800 USD.