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The Xbox One will arrive at our gates in November at £429

Microsoft has revealed that its news Xbox One will launch in November for £429, and announced a list of exclusive titles that will be available for the system.

The price tag is very high compared to the Xbox 360 and original Xbox, but it is notably less expensive than the high-end version of the Sony PlayStation 3 at launch, which originally retailed for $600 (£385). The Xbox One includes the system, the Kinect 2.0, and a wireless gamepad, and will be equipped with a 500GB non-removable hard drive.

Unlike Microsoft's first Xbox One press conference, the event at E3 2013 focused entirely on games. The Xbox One will get several new chapters from classic franchises, a few new rekindlings of old properties, and a handful of new games.

Notably, the Xbox One will get a new Halo game, currently only titled Halo. The teaser trailer shown at the press conference didn't give away any gameplay or details regarding the game beyond a large spaceship rising from the stand in front of Master Chief, who was hidden by rags until the last few seconds of the video.

The Xbox One will also get Forza Motorsports 5, and to highlight this game Microsoft brought a MacLaren P1 concept car to the stage. Forza Motorsports 5 will be distinguished by its "Drivatar" feature, which learns how players drive and then sends those profiles into Xbox Live's cloud computing system to actively race against other players when the player is offline. The Drivatar can win points and rewards for the player, and provides new AI profiles to other players in the form of competitors.

Microsoft also brought out Rare to show off a new fighting game based on a forgotten classic from the 16- and 64-bit eras. Killer Instinct will be returning to the fighting game scene as an Xbox One exclusive. The announcement showed two series regulars, Jago and Sabrewulf, fighting in what appears to be a Mortal Kombat 9-like two-dimensional plane, like the original Killer Instinct.

The company also showed off a new Xbox One exclusive game, Project Spark. It's a community-driven, Kinect-controlled development game that lets players design their own video game experiences with voice commands and Microsoft's Smartglass mobile device integration. The tools shown in the demo seem powerful, and could present the Xbox alternative to LittleBigPlanet for which creative gamers have been waiting.

Other notable Xbox One titles include Insomniac Games' open-world shooter Sunset Overdrive, Capcom's open-world zombie fighting game Dead Rising 3, CD Projekt Red's open-world RPG The Witcher 3: Wild Hunt, and Mojang's open-world building game Minecraft: Xbox One Edition. The games aren't all open-world, though; Crimson Dragon will offer dragon-based aerial combat from the creator of the Panzer Dragoon series, Below will offer rogue-like dungeon exploration from the creators of Sword & Sorcery EP, and D4 will offer detective thriller action from the creator of Deadly Premonition.

Release dates for most games weren't announced, but the majority will likely be between the the 2013 holiday season and spring of 2014.