Xbox One successor Project Scarlett to launch in 2020

Microsoft has announced its next-generation console 'Project Scarlett' which is set to go on sale by 2020.

The new system would use a custom variant of AMD Zen 2 processor architecture with GDDR6 memory, with enough processing and graphics power to handle 8K (presumably not for most, if any, games), real-time ray tracing and 120 frames per second performance, The Verge reported on Sunday.

Microsoft and Sony have both announced plans to release the next-generation video game consoles, following up on their Xbox One and PlayStation 4 devices, first released in 2013.

Google in March announced a new gaming service called Stadia, which allows players to stream games over the internet in a similar way we stream movies over Netflix now. 

Last year, through a series of leaks, we learned Microsoft had begun designing a suite of next-generation hardware under the codename 'Scarlett'.IANS