The PlayStation 4K console is real.

On Friday, Sony Interactive Entertainment president Andrew House told the Financial Times that a “high-end PS4” is in development, which will offer 4K resolution, richer graphics and improved processing power.

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“It is intended to sit alongside and complement the standard PS4,” House said. “We will be selling both [versions] through the life cycle.”

House believes that the new PlayStation 4, codenamed Neo, will attract hardcore gamers first and foremost. House confirmed that the “high-end” model will be more expensive than the current $350 model as well.

Unfortunately, would-be upgraders are going to have to wait a little longer for an official unveiling, as House also told FT that the company doesn’t plan on showing off the new PS4 at E3 2016 next week. Sony wants “to ensure we have a full range of the best experiences on the new system that we can showcase in their entirety.”

When asked about whether or not having two models on the market would create issues, 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.”

Both consoles will also support the upcoming PlayStation VR.

Finally, House noted that developing games for the new console will require a “small but manageable” amount of additional work on the part of the developers, but that the experience will be relatively “seamless.”

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