Microsoft’s next big console is already underway and is set to offer true 4K visuals with 6 teraflops of GPU compute power. The new console doesn’t yet have a name, and is simply called Project Scorpio.
The new hardware is aimed for released holiday 2017. Microsoft are pushing the new hardware for 4K resolution at 60fps and VR. Microsoft partnership with Oculus will obviously continue with Oculus hardware most likely being Microsoft VR for consoles.
The big push for the new hardware is complete compatibility with previous Xbox One and now of course the Xbox One S games and accessories.