Sony has confirmed that the rumors are true. According to The Financial Times, a new, beefier PlayStation 4 is on the way. No release date was given, and Sony also said they won’t be talking about the new console at their E3 Media Briefing on Monday.

Andrew House, the CEO of Sony Interactive Entertainment told The Financial Times that the new system would support 4K TV, as was rumored, but it won’t replace the current PlayStation 4 model.

“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 said in that interview. He also said that the current PlayStation 4 model will continue to be sold throughout the life of this generation of consoles. But the high-end system will likely be more suited for PlaySation VR, which is scheduled for release this fall.

So what’s this mean for you? If you already own a PlayStation 4, then you can rest assured that it’s not going to become obsolete. Unless you’re insistent on having the best technology on the market, you won’t have to buy the new model. If you don’t own a PlayStation 4 yet and are interested in the upgraded model or PlayStation VR, it might make sense to wait. However, no price point for the new system has been announced, so it could be significantly more expensive than the current model.

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Nicole has been playing games her entire life. Now that she's a mom, she's passionate about promoting games as a healthy pastime to other parents around the globe. She has been an editor at IGN, where she launched and hosted the Girlfight podcast. In her spare time (which is not very much, honestly) she enjoys gaming, reading, and writing fiction. Most of the time she’s a mom to a crazy, intelligent, and exhausting little girl.