Microsoft Corporation could be looking for ways to become more competitive with the impending release of Xbox Project Scarlett.\r\n\r\nThe Washington-based company may have realized that there is still so much to do to keep up with the competition. It is worth noting that its biggest competitor in the business is Sony Interactive Entertainment. This is at least in the production of game consoles.\r\n\r\nThe Japanese firm is currently making headlines because of its next-gen console \u2013 the PlayStation 5. Therefore, Microsoft has to do something to ensure that it does not lose its customers. It has to be both competitive and innovative at the same time.\r\n\r\nWith reports claiming that PS5 is coming to PlayStation Now, Microsoft is expected to offer something interesting for Xbox Project Scarlett. Here is the official announcement trailer of the product.\r\n\r\n[embed]https:\/\/www.youtube.com\/watch?v=-ktN4bycj9s&app=desktop[\/embed]\r\n\r\nDuring an interview, the company\u2019s executive, Phil Spencer, admitted about a mistake they have made. He hinted that the selling price of Xbox One could have been responsible for its defeat against PlayStation 4.\r\n\r\nAccording to the Microsoft official, they are determined not to repeat the same mistake. They are making sure that the price won\u2019t be too high to scare off the gamers. The company will also make sure the console will be packed with powerful features and specs.\r\n\r\nSpencer noted that the development of Xbox Project Scarlett is banked on the principle of price and power.\r\n\r\nAs a strategy to become more competitive, the multinational company is focusing on two major features. These are the backward compatibility and cross-play.\r\n\r\nThe backward compatibility may not be a new name in the gaming community. However, integrating it into the next-gen Xbox\u2019s system can be a great deal. This would allow gamers to enjoy their old games in their new console still.\r\n\r\nIn the meantime, the cross-play feature is another reason for players to pick the Xbox Project Scarlett. With it, they can play their favorite games on different platforms without losing their achievements.\r\n\r\nThe original Xbox console was launched in November 2001. A year later, its integration with Xbox Live commenced.\r\n\r\nIn November 2005, the console\u2019s successor, the Xbox 360, was made available. Meanwhile, the latest model, the Xbox One, was released in November 2013. It has been six years since gamers got hold of a new Xbox console. Thus, their excitement for the upcoming model is expected. Nevertheless, the Xbox Project Scarlett would not be available until the holiday season of 2020.