UPDATE: Microsoft’s souped-up console is called Xbox One X, launches on November 7 for $500

First, there was Xbox One. Then, there was Xbox One S. And on November 7, there will be Xbox One X. That’s right, Microsoft, as if deliberately trying confuse the hell out of gift-buying grandparents everywhere, has given the next version of its game console a name that sounds almost exactly like the last one. Previously known as Project Scorpio, the Xbox One X is the second upgrade to the Xbox One since the original Xbox One hit shelves in 2013. It’ll play all the same games as the Xbox One and Xbox One S, but it comes packed with some vastly upgraded technology that’ll let it optimize games for 4K TVs. And despite the power under the hood, Microsoft is calling the One X “the smallest Xbox ever.” Design wise, it looks a hell of a lot like the Xbox One S.

The company promises the entire Xbox One library “will look and play better” on the One X, with some extra visual benefits, plus better loading times, coming to released before the new system. According to Microsoft, the One X will also benefit the many players who’ve yet to move on from lame old 1080p TVs. Games that are designed to run in 4K will use “super-sampling” technology to look a little better on lower-resolution TVs. The console’s price has yet to be announced, but we’ll update this story as soon as Microsoft works up the guts to break the news.

UPDATE: After playing it coy for the first 90 minutes of its E3 press conference, Microsoft has announced the Xbox One X will cost $500 when it launches on November 7. Additionally, select Microsoft first-party games—including Gears Of War 4 and Forza Horizon 3—will be getting free updates that let them take advantage of the new console’s immense and terrible power. There was no mention of whether this means publishers that aren’t Microsoft will be charging for similar updates.