The Xbox Series S may rival the Xbox Series X when it comes to CPU power. Bad news for Sony and the PS5, but could be a big win for budget-conscious gamers.

New information about the Series S, also known as Project Lockheart, was obtained from a tweet by The Verge's Tom Warren (via GameSpot). Warren has a credible track record when it comes to Microsoft rumors, so this information carries weight. He was also one of the sources of the original rumor that the Series S would feature an underclocked CPU, so the fact that he is correcting his statement is noteworthy.

While the CPU speed is the same, according to Warren, the GPU is less powerful, with fewer control units (CUs) and lower clock speeds; since the Xbox Series X's GPU output already exceeds that of the PS5, this tuning should give the Series S The Xbox Series X already outperforms the PS5, so we hope that this tuning will not cause the Series S to fall too far below the PS5. [This is about half of the 16GB RAM that the Xbox Series X and PS5 have.

The Series S will be capable of 1440p display output, Warren continued. This is a step down from the Series X's maximum output of 4K, but still decent. Also, if one does not own a 4K TV, this configuration may be more ideal.

Project Lockhart has long been rumored as Microsoft's second line of attack against Sony as a way to expand its user base among potential players who cannot afford top-of-the-line hardware. Sony is offering a less expensive option, the PS5 Digital Edition, which cuts down on the final cost by cutting out the Blu-ray Disc drive (though it remains to be seen how much either PS5 will cost). If the Series S is much cheaper than the Series X, gamers who do not have all the hardware to take full advantage of the PS5's capabilities may be tempted to pick up Microsoft's less expensive console.

There has been no official announcement regarding the existence of the Series S yet. As far as we know, only the Xbox Series X and PS5 (both regular and digital editions) will be released around November this year. Aside from performance and pricing details, we know that each console will support ray-traced graphics, fast SSD loading, and will have a number of exclusive and shared next-generation titles at launch. The next big console showcase is Microsoft's exclusive event in July, where titles such as "Halo Infinite" will be unveiled, as well as some new hardware.