Sony has finally confirmed the development of an upgraded PS4. Many gaming communities have speculated about this console. Names have included PS4.5, PS4K and PS4 Neo but none of the details have been confirmed. Until now.

This new system, code named Neo, will feature improved graphics and includes support for 4K resolution. No release date has been given for the PS4 Neo. Andrew House, a Sony CEO, made this reveal and stated the following.

PS4 Neo
Andrew House, CEO of Sony

“It is intended to sit alongside and complement the standard PS4,” he said. “We will be selling both [versions] through the life cycle.”

The PS4 Neo is said to be slightly more expensive than the original but no price has been announced. Specifics about the hardware inside the PS4 Neo were not revealed. This makes it difficult to get a sense of how much it will cost Sony to produce. Without that, we can only guess at the PS4 Neo’s price for now. One thing is certain, Sony won’t be selling the PS4 Neo at a loss out of the gate.

This new system will not be shown at E3. Sony wants to make sure they have a variety of experiences that showcase the PS4 Neo in it’s entirety before official demonstrations. Existing PS4 users don’t have to worry about not being able to play new titles says House.

“All games will support the standard PS4 and we anticipate all or a very large majority of games will also support the high-end PS4,” House explained.

As hardware upgrades, concerns about how much more work developers will have to do are reported. Andrew House states the amount of work to produce a game for both systems is ‘small but manageable’.

“The consumer is attuned to a different cadence of innovation in technology thanks in great part for the upgrades cadence on mobile phones or PCs,” House said of this new strategy to offer a more powerful version of the same system.