Sony has confirmed the existence of PlayStation 4 Neo, an upgraded version of the current PlayStation 4 hardware.
The console will be a "high-end PS4" that supports 4K resolutions and enhanced graphics, and will be more expensive than the current $350 model, Sony Interactive Entertainment president Andrew House revealed to the Financial Times.
"It is intended to sit alongside and complement the standard PS4," he said. "We will be selling both [versions] through the life cycle."
The new console will not be revealed at E3 next week, however, with Sony instead waiting to "ensure we have a full range of the best experiences on the new system that we can showcase in their entirety," House says.
All PS4 games will remain compatible across both consoles, House adds, with Sony expecting "all or a very large majority of games" to be optimised for the new PS4. The platform holder also expects the hardware to be profitable from launch, rather than selling it at a loss.
A price, release date, specs and official name for the new console has not been revealed. It isn't clear whether the hardware will arrive this year, although rumours suggest all PS4 games will be required to be compatible with the console from October.
Confirmation follows months of rumours claiming that Sony is set to launch an upgraded PS4, with the hardware rumoured to include an improved CPU, GPU and RAM.
Microsoft is also rumoured to be working on a more powerful Xbox One.