Lately, President and CEO of Japanese tech giant, Sony confirmed in his recent interview that a new ‘high-end PS4’ is under development. The word gets confirmed officially by Sony after a long time when the rumors of PlayStation 4 Neo broke over the internet couple of weeks ago.

While speaking with the Financial Times, PlayStation chief Andrew House said that the new PlayStation 4 console with much upgraded hardware to deliver best experience will be launched in the coming months. Both the versions (Standard and 4K supported, referred as PlayStation 4 Neo) will co-exists through their life cycles.

“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, which is codenamed “Neo”, will target hardcore gamers, he said, as well as consumers with a 4K television set looking for more high-resolution content.

“All games will support the standard PS4 and we anticipate all or a very large majority of games will also support the high-end PS4.”

He also said that the new console will cost higher than the current standard version of the console. Although, the selling price per unit has not been decided yet. Sony has decided not to reveal the new PS4 Neo concept during upcoming E3 event which will be held next week at the Los Angeles Convention Center.