Microsoft says the Xbox Series X will cost $500, a stripped-down $300 Series S will also be available, and both will launch on November 10, as the holiday shopping season kicks off.
There haven't been new generations of video game consoles for several years. The most recent Xbox, Xbox One, was released in 2013, as was Sony's PlayStation 4.
A stripped down version, Xbox Series S, will cost $300 and be available at the same time. Pre-orders begin Sept. 22.
New video games at launch include "Assasin's Creed Valhalla," "Gears Tactics," "Dirt 5," and "Watch Dogs Legion."
In related news, Sony is expected to announce PlayStation 5 pricing soon.