Microsoft just revealed its new Xbox console, and it will be slightly more affordable in Canada than in the U.S. But the retail price is still higher than similar products from its competitors. 

The Xbox One X, announced at Sunday's E3 conference in Los Angeles, will retail for $599 in Canada, a slightly better price than the US$499 that the new generation console will cost south of the border. Developed under the codename "Project Scorpio," the console be released on Nov. 7 on all Xbox One markets.

The Xbox One X's Canadian price point might be a nice surprise to gamers in the country, but at $599, the console will still be $100 more expensive than its closest rival, Sony's PlayStation 4 Pro, which launched last year. Nintendo's hybrid console, the Switch, costs $399.

The Xbox One X will run games in 4k resolution and expand on the Xbox One's backward-compatibility library. Microsoft also revealed that several major titles like Minecraft, Gears of War 4 and Resident Evil 7 will be receiving upgrades to take advantage of the new console's capabilities.

Microsoft also displayed over 42 titles at its E3 conference, including 22 with console exclusivity.

However, the tech industry was quick to notice that there was little mention of VR support for the Xbox during Sunday’s conference. Sony recently announced its PlayStation VR headset sales topped one million units. The Japanese firm's E3 showcase will be held Monday at 9 p.m. ET.