Mark Cerny has taken to the stage during today’s Playstation Meeting to officially announce the long-rumoured Playstation Neo, now titled the Playstation 4 Pro. Similarly to what the Xbox One Scorpio is to the Xbox One, the Playstation 4 Pro is an upgraded Playstation 4 meant to play and display games in 4k with HDR, while remaining fully compatible and selling alongside the Playstation 4 slim.

This upgrade in resolution is thanks to an increase in GPU power and a boosted CPU clockrate, with the Playstation 4 Pro using components based on the newer AMD Polaris architecture. The Playstation 4 Pro will also ship with a 1TB harddrive, helping you get a few more games on there before needing to upgrade.

It is confirmed that a number of games will support the added features of the Playstation 4 Pro, with Spiderman, Days Gone, Horizon Zero Dawn, Call of Duty: Infinite Warfare, Mass Effect Andromeda and many, many more.

The Playstation 4 Pro will be priced at $559.95 when it launches in Australia on November 10th.

Update: Since the announcement it has been confirmed that the Playstation 4 Pro will not support UHD Bluray playback, but will support 5ghz WiFi and 1080p recording and remote play.