Sony confirms PS4 Neo

Sony (NYSE: SNE) has confirmed that it is developing new PS4, codenamed Neo, a new version of PS4 with faster processor, 4k resolution and improved graphics. However, the upgraded PS4 will not be unveiled at Electronic Entertainment Expo (E3) next week, which may disappoint some fans.

According to Financial Times interview with Sony president Andrew House, the “high-end” PS4 will be more expensive than current $350 version. To address concern over interoperability, Mr. House said, “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”. Existing PS4 owner will not be frustrated about being unable to play future games. Besides, both PS4 Neo and current version will be compatible with its coming virtual reality headset, which will start selling later this year.

Last month, Sony announced PS4 has cumulatively sold through more than 40 million units to consumers worldwide as of May 22, 2016, far outselling its rivals. The growing sale of PS4 benefited from new released title Uncharted 4: A Thief’s End that is only available on PlayStation. According to IHS analysts’ estimate, Microsoft’s Xbox one had sold 21 million units at the end of March. Microsoft (NASDAQ: MSFT) is also rumored to lunch its own Xbox One upgrade plan at E3 2016 that will take place this coming Monday. Another rival, Nintendo has reported a decline in sales for the fifth straight financial year.

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