PARIS, FRANCE - OCTOBER 28:  A visitor plays a video game on a gaming console "Playstation PS4" at the Paris Game Week, a tra
Chesnot/Getty Images

E3, a.k.a. gamer heaven, kicks off on June 14 (Fuse will be there!), but the announcements that are usually made at the convention have already begun. Sony Interactive Entertainment president and CEO Andrew House tells the Financial Times (via Polygon) that a luxe new edition of the Playstation 4 is officially on the way. Its codename? PS4 Neo.

The revamped console will be pricier than the current $350 version, and they're actually made to "sit alongside and complement" each other. Sony is not phasing out the original console. "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," House says.

The PS4 Neo is expected to cater to serious gamers (whereas the PS4 is an all-around media center) and work with 4K televisions and the upcoming Playstation VR, the company's virtual reality project.

Playstation 4 Neo will not debut at E3, although a new Xbox One is expected to appear, as is the Wii follow-up Nintendo NX. While you wait, listen to the Back of the Class podcast discuss the Playstation VR at the 34:35 mark in the episode below: