A souped-up PlayStation 4 is definitely coming out, Sony confirmed, after months of rumors that it was working on a “PlayStation 4.5.

The console, codenamed “Neo,” will support 4K resolutions and improved processing power. Sony Interactive Entertainment President Andrew House confirmed its existence to the Financial Times on Friday.

But, despite months of rumors and interest in Neo — which was first unearthed by Kotaku in March — the console will not make an appearance at E3 in Los Angeles next week.

Neo will not replace the $350 PlayStation 4, which was released in Nov. 2013, but will instead be another option for consumers who want more graphical power, House told FT. Read more…

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4K PlayStation 4 does exist, but it won’t be at E3