Not to be outdone by other tech giants making big hardware announcement last week, Sony held a press conference Friday afternoon in New York to spread the word about the upcoming upgrades to the PlayStation 4 system, which includes the anticipated introduction of 4K playback capability.

The biggest announcement from the video game giant is the confirmed development of a more powerful version the PS4, dubbed Neo. Improved processors, graphics, and support for 4k resolutions means users get to experience smoother gaming and crisper details (especially for those with 4K televisions…). The Verge, which will be live updating excited consumers during the event, has tied in these improvements to the upcoming release of Playstation VR, a virtual reality peripheral that will bring virtual reality gaming to an already popular console (ahead of VR notable, Oculus). PSVR launches in October, for all versions of PS4, witn Neo likely making its debut in 2017.

You can catch the feed of the “PlayStation Meeting” below:

https://www.youtube.com/watch?v=X2JnhRPxx0M

Aside from Neo, the PS4 in general will be slimming down. Leaked photos from August showed a smaller, angular design with rounded corners. The Verge further suggests that not much has changed as far as a complete aesthetic overhaul.

Sony is also rumored to be releasing an improved version of the DualShock4 Controller, which not features a colorful light bar, a fun tie-in in to games like Grand Theft Auto, which feature flashing police lights. Further details are still under wraps.

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