Phil Spencer, the head honcho of Xbox, made an announcement regarding the progress of Project Scorpio, and fans can be happy and excited about how things are going with its progress.

Below is the official tweet that the Xbox Boss made on his official Twitter account.

@RBeckerath I'm in a day long review of where the team is on Scorpio right now, amazing progress and we are feeling good about schedule.

— Phil Spencer (@XboxP3) October 24, 2016

This was his response with one of the posted questions regarding the Xbox Scorpio and the possibility of it being released earlier. Spencer mentioned that the Scorpio is, indeed, ahead of schedule and is making an "Amazing progress" that makes them feel good about its schedule.

This follows the statements that Spencer made regarding the Scorpio with his previous interview with Gamespot a few weeks ago.

"There is a lot of time to go, but we feel good about how the things are coming together," he said.

"The teams understand the performance spec that we're building. We went through some of the high-level specs at E3 in the video. And it gives the teams time to make sure that they're targeting that performance for their games. Luckily so many of both our internal teams and partners are also building on PC." Spencer added.

As he further explains that the PC spec that they are gunning to match the Scorpio with is nothing really new as most gaming rigs of today natively supports 4K and 4K frame buffering.

According to the team behind the development of Project Scorpio, it will be the most powerful console ever made that it easily earns the merit of being a "premium" item. Spencer refers to this as a clear indication that the Xbox Scorpio is nowhere being a cheap console.

Spencer's team expect that both the Xbox Scorpio and Xbox One S will be available in the market at the same time, but due to the performance gaps between the two, the consoles will be priced accordingly. Spencer, however, made a point regarding their goal and it clearly isn't about outselling high-end gaming PCs. The consumer price points are still their priority and the team aims to hit that.