The Xbox One has close to ten times the power of the Xbox One, Microsoft Game Studios corporate VP Phil Spencer has confirmed, following his appearance on Late Night with Jimmy Fallon.

Spencer was on the chat show to demo the Xbox One, but he mistakenly said the console had only three times the power of the Xbox 360. He quickly took to Twitter to correct his error.

"I made a mistake," he wrote. "[Performance] depends on exactly what you are doing with the system," Spencer explained. "For purely local compute functions closer to 10x + Cloud."

"Cloud gives more, cloud really depends on game. Dedicated servers, async compute etc. gives devs more options. 10x is local."

Spencer also denied widespread rumours that the Xbox One has been downgraded.

"No downgrading of power," he wrote. "I've seen same rumour, not sure where that comes from. Feeling good about visuals at E3 from kits."

Xbox One will be released in November.

Whilst Spencer was quick to correct his mistake using Twitter, it's more difficult to get that message over to the millions of potential customers who now think the Xbox One is only three times the power of the Xbox 360.