In recent Financial Times interview Sony confirmed the existence of a PlayStation 4 supposedly codenamed “Neo.” Sadly it seems like we won’t see this PS4 Neo for a while, however.

PS4 Neo

PS4 Neo, what’s new and what we’ve known already.

There have been many rumors surrounding PS4 Neo and its actual existence, however finally Andrew House, president and global chief executive of Sony Interactive Entertainment, confirmed that PS4 Neo is in development. Mr. House states that the new console will be more expensive than the current PS4 and that it will mainly target hardcore gamers and consumers interested in 4k content. Sadly Mr. House confirmed that the new console won’t be shown in at E3 2016, which means we won’t see the new console any time soon and we might not even see it in 2016 at all. House didn’t hesitate to clear up some concerns surrounding their new console and stated that Sony will be selling Neo alongside with their current PS4 console and that most of games supported by PS4 should be compatible with the new console.

The PS4 Neo itself should be more powerful than the current PS4 and should also pack some new technology inside of it, not the least of which is the ability to playback 4K content. If GiantBomb’s sources are correct, the PS4 Neo should contain a slightly better CPU and even a more powerful and efficient Polaris-based GPU from AMD. The specifications of which seem to be surprisingly similar to specifications to AMD’s new RX 480, which is launching soon. All of this should make the new console quite a bit more powerful than its predecessor and unlock the potential for games with better graphics, possibly 4k resolution and much better and visceral VR. But when exactly we are going to see this new console? That’s still unknown.

For those unable to read the interview at Financial Times, one kind NeoGaf poster reposted the bits we are talking about in this article here.