PS4 Neo

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The PS4 Neo – or PS4K as some are calling it – is the industry's worst kept secret. Sony recently confirmed its existence, but has stated that we won't be seeing it for a good while yet, after remaining tight-lipped at E3. However it's only a matter of time until we're playing it in our living rooms.
With Microsoft announcing not one but TWO new consoles during its press conference: the Xbox One S and Xbox Scorpio, it seems both of the big houses are decided to shorten console life cycles moving forward, and perhaps we're seeing the beginning of the end of the classic games console.

But is the PS4 Neo going to render the current model obsolete? Will the new system get any exclusive games? What will it actually do from a technical perspective that the existing console doesn't? We don't have all the facts to hand, but here's all the info that's currently available.