After months of rumours and speculation, Sony has finally confirmed the existence of a high-end PS4 – you know, the one that’s codenamed NEO. The only bad news is that it won’t be shown at this year’s E3 gaming expo.

It will be compatible with all existing PS4 games and support “all or a very large majority” of future releases, as well as PlayStation VR games.

As expected, the high-end PS4 will support 4K output and offer improved visuals, although from a developer’s standpoint, it only requires a “small but manageable” effort to get games working across both platforms.

Unfortunately, it will cost more than the current PS4, because Sony doesn’t want to sell the console at a loss.