Announced last month, Xbox One will be launched in 21 markets around the world in November 2013.
Microsoft revealed the news today as E3 games conference kicks off in LA.
But the good news is Aussie gamers won't miss out and is among the 21 that will get the new Xbox first, RRP $599 ($100 more than the US asking price).
Kitted out with TV content, Internet, Skype, better Kinect integration, Blue Ray player, the voice-controlled Xbox One "is the ultimate all-in-one entertainment system" for the 21st century living room, says Microsoft
New Xbox games including: Metal Gear Solid: The Phantom Pain, Ryse: Son of Rome, Forza 5, Minecraft, Battlefield 4, Dead Rising 3, Titanfall, and Xbox One accessories including a Wireless Controller, were also unveiled at E3.
You watch TV via HDMI cable and the Xbox console is also fused with Windows OS (hello apps), listen to music, stream content from Xbox Live and, of course, play games like Dead Rising 3 or Black Ops II to your heart's content.
Under the bonnet the new console has 5 billion transistors on its 8-core CPU, and 8GB of RAM. It also has a 500GB hard disk, Blu-ray drive along with HDMI-in and out, USB 3.0, and Wi-Fi with Wi-Fi Direct.
Gamers can also split the screen and do several things on the same screen at once.
JB Hi Fi preorder price for Xbox One is $598, and is asking for $10 deposit when preordering instore.
Microsoft is also introducing a limited-edition 'commemorative bundle' to fans who preorder, which includes: an Xbox One system premium black a (limited-ed) Xbox One Day One wireless controller, and commemorative Day One Achievement.
However, Microsoft is warning the bundle available in limited quantities.
Microsoft surprised gamers today revealing a new slimmer, slammer Xbox 360 and is still committed to supporting the console and expects hundreds of new games over the new few years, according to Windows Phone Central.
Gamers who pre order the exclusive Xbox One Day One ed. titles, will receive bonus content:
Ryse: Son of Rome: Exclusive multiplayer map and sword with bonus attributes.
Forza Motorsport 5: Access to four cars tuned to the top of their class.
Kinect Sports Rivals: Exclusive sporting equipment that separates your Champion from the rest of the world.
Dead Rising 3: Exclusive Frank West and Chuck Greene Tribute Packs with bonus attributes.
The Xbox gurus are also releasing newbie accessories including: