Sony has confirmed that the company will announce a new “high-end” version of the Playstation 4 later this year. Sony Interactive Entertainment CEO Andrew House has confirmed this in an interview with the Financial Times.

With Playstation 4 Neo Sony plans to cater to the hardcore gamer demographic by featuring more powerful hardware in the newer version. In addition the videogame console will feature additional support for UHD televisions, hinting towards the support for 4K resolution gaming.

House does not believe that this new version will replace the current Playstation 4. Sony will continue to sell both versions of the console throughout the console's life cycle. Game developers will be able to add support for the new version with "small but manageable" amount of extra work.

The new "high-end" Playstation 4 will be more expensive than the current $350 version. A release date has not yet been given, though House states that the company is seeking to reveal the console sometime after the E3 expo that takes place in Los Angeles next week.