In an interview with Financial Times, president and CEO of Sony Interactive Entertainment Andrew House confirmed the existence of the rumored more powerful version of the PlayStation 4, codenamed "Neo." House also said Sony will not be showing the Neo off at E3.

House's admission that the Neo exists is a first for Sony, which has so far kept silent even as more and more rumors and reports come out about the high-end version of the console. In the interview, House said Sony is aiming the Neo for "hardcore gamers" and anyone wanting to get ready for 4K content. He said it will launch at a higher cost than the PlayStation 4's current $349 price point, though he doesn't say by how much.

Interestingly, House said that Sony has no plans to phase out the current version of the PS4 and replace it with the Neo; instead, he said that it is meant to "sit alongside and complement" the standard model. "We will be selling both [versions] through the life cycle," he said.

Though many players have been worried that the existence of the Neo might mean fewer games for their current PS4s, House said that it's a concern players need to worry about. "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," he said.

Finally, House mentioned that the Neo will not be shown off at E3 next week, which is potentially an odd move, but is likely because the Neo won't launch until later this fall and Sony doesn't want to give people a reason not to buy the current PS4 months in advance.