Xbox One X price revealed by Microsoft at E3 2017

Microsoft could sell the console for even more, according to analysts

People are going to keep buying the new Xbox One X despite its huge price tag, according to experts.

The new console costs £449 – £100 more than the similarly new and powerful PS4 Pro.

But Microsoft hopes that the new console – the most powerful ever made, and 40 per cent quicker than any other – will be enough to win people over.

Games industry analyst Piers Harding-Rolls, from IHS Markit, said keen gamers will not be put off by the valuation.

"Even if the price point was revealed to be higher than this, we did not expect this to impact sales of the console at launch," he said.

"Xbox enthusiasts will pay significant sums to get hold of the latest and greatest."

The new console features processor chips and graphical power normally associated with high-end gaming PCs, which can cost several thousand pounds.

Xbox boss Phil Spencer said the company's aim is to "delight gamers", and also confirmed the One X will support backwards compatibility - enabling gamers to play games originally intended for the older Xbox One console.

The new Xbox will go on sale on November 7, it was confirmed, and it has the ability to show games in "true 4K" not seen before, the firm says.

It will also have the power to improve picture quality on televisions without 4K capability, as well as shorten loading times on older games.

A host of new games were unveiled alongside the new console, including a new instalment in the Assassin's Creed series - which last year was made into a movie starring Michael Fassbender.

When first announced last year under the codename Project Scorpio, it was suggested the increased specifications of the One X were to enable the device to support virtual reality headsets.

Sony took such an approach with the PS4 Pro, marketing it as the best companion for its PlayStation VR headset, which has sold a million units since launch last year.

However, Microsoft did not announce a single virtual reality game during its press conference, which took place ahead of the opening of video games convention E3 in Los Angeles on Tuesday.

The "niche" nature of virtual reality was the reason for this, Mr Harding-Rolls claimed.

"While the One X has the power to drive VR experiences, Microsoft's lack of VR coverage at its press event underlines that VR remains a niche pursuit and that it will not be rolling out headset support until at least 2018," he said.

PlayStation will hold its own preview event on Monday night, where it is expected to reveal a line-up of high-profile games, including the new Call Of Duty and a sequel to Bafta award-winning survival game The Last Of Us.

Additional reporting by Press Association